Fifth Third Bancorp Purchases 114,795 Shares of Capital One Financial Corporation $COF

Key Points

• Fifth Third Bancorp significantly increased its stake in Capital One Financial by 359.9%, acquiring an additional 114,795 shares to reach a total of 146,694 shares worth approximately $31.21 million.
• Capital One Financial reported earnings per share (EPS) of $5.48, exceeding expectations by $3.55, with a revenue of $12.49 billion in the latest quarter, marking a 31.4% increase compared to the previous year.
• The company recently declared a quarterly dividend of $0.60 per share, with a dividend yield of 1.1%, although its dividend payout ratio stands at 123.08%.

Fifth Third Bancorp raised its position in shares of Capital One Financial Corporation (NYSE:COF) by 359.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,694 shares of the financial services provider's stock after acquiring an additional 114,795 shares during the period. Fifth Third Bancorp's holdings in Capital One Financial were worth $31,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CCM Investment Advisers LLC boosted its stake in Capital One Financial by 0.8% during the 2nd quarter. CCM Investment Advisers LLC now owns 73,562 shares of the financial services provider's stock valued at $15,651,000 after purchasing an additional 554 shares during the period. MCF Advisors LLC lifted its holdings in shares of Capital One Financial by 228.3% during the second quarter. MCF Advisors LLC now owns 4,215 shares of the financial services provider's stock worth $897,000 after buying an additional 2,931 shares during the last quarter. Unified Investment Management boosted its position in shares of Capital One Financial by 1.6% in the second quarter. Unified Investment Management now owns 4,261 shares of the financial services provider's stock valued at $906,000 after acquiring an additional 67 shares during the period. Bay Capital Advisors LLC acquired a new stake in shares of Capital One Financial in the second quarter worth $204,000. Finally, Fortitude Family Office LLC increased its position in Capital One Financial by 131.1% during the second quarter. Fortitude Family Office LLC now owns 275 shares of the financial services provider's stock worth $59,000 after acquiring an additional 156 shares during the period. 89.84% of the stock is owned by institutional investors and hedge funds.

Capital One Financial Price Performance

Capital One Financial stock opened at $224.14 on Thursday. The business has a 50 day simple moving average of $219.08 and a 200 day simple moving average of $198.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $143.34 billion, a PE ratio of 114.95, a price-to-earnings-growth ratio of 0.86 and a beta of 1.17. Capital One Financial Corporation has a one year low of $143.22 and a one year high of $232.45.

Capital One Financial (NYSE:COF - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $3.55. The company had revenue of $12.49 billion for the quarter, compared to analyst estimates of $12.72 billion. During the same quarter in the prior year, the company earned $3.14 earnings per share. The business's revenue was up 31.4% compared to the same quarter last year. On average, sell-side analysts forecast that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. Capital One Financial's dividend payout ratio (DPR) is presently 123.08%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Capital One Financial from $225.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Citigroup lifted their target price on Capital One Financial from $250.00 to $275.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Rothschild & Co Redburn began coverage on Capital One Financial in a report on Friday, August 1st. They issued a "buy" rating and a $290.00 price target for the company. Wall Street Zen lowered Capital One Financial from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Barclays restated an "overweight" rating and issued a $253.00 target price (up from $212.00) on shares of Capital One Financial in a research note on Monday, June 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Capital One Financial has an average rating of "Moderate Buy" and a consensus price target of $239.44.

Insider Activity

In other news, insider Robert M. Alexander sold 10,114 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $227.86, for a total value of $2,304,576.04. Following the transaction, the insider directly owned 68,707 shares of the company's stock, valued at $15,655,577.02. The trade was a 12.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Timothy P. Golden sold 3,462 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $210.28, for a total value of $727,989.36. Following the sale, the chief accounting officer directly owned 8,987 shares of the company's stock, valued at $1,889,786.36. This represents a 27.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,298 shares of company stock worth $4,679,844. 1.26% of the stock is currently owned by insiders.

About Capital One Financial

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.

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