Fifth Third Bancorp Reduces Stock Position in Capital One Financial Corporation $COF

Key Points

• Fifth Third Bancorp reduced its Capital One Financial position by 2.5% in the second quarter, selling 8,279 shares and retaining 326,265 shares worth approximately $65.5 million. Institutional investors collectively own 89.84% of COF.
• Capital One reported strong quarterly results, with EPS of $5.81 versus $4.79 expected and revenue of $15.83 billion, up 26.9% year over year. The company also declared a quarterly dividend of $0.80 per share, implying a 1.4% yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $259.36, although some analysts have issued downgrades. Several insiders have also sold shares recently, including 22,186 shares worth about $4.7 million over the past three months.

Fifth Third Bancorp cut its holdings in Capital One Financial Corporation (NYSE:COF) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 326,265 shares of the financial services provider's stock after selling 8,279 shares during the period. Fifth Third Bancorp owned about 0.05% of Capital One Financial worth $65,455,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of Capital One Financial by 330.1% in the 4th quarter. Brighton Jones LLC now owns 13,587 shares of the financial services provider's stock valued at $2,423,000 after acquiring an additional 10,428 shares during the last quarter. Intech Investment Management LLC increased its stake in Capital One Financial by 44.3% during the first quarter. Intech Investment Management LLC now owns 8,968 shares of the financial services provider's stock worth $1,608,000 after acquiring an additional 2,753 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Capital One Financial by 118.3% during the second quarter. Sivia Capital Partners LLC now owns 3,300 shares of the financial services provider's stock worth $702,000 after acquiring an additional 1,788 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in shares of Capital One Financial in the 2nd quarter valued at approximately $218,000. Finally, Jump Financial LLC purchased a new position in shares of Capital One Financial in the 2nd quarter worth approximately $1,086,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Capital One Financial Trading Up 1.5%

COF opened at $227.19 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.02. The stock's 50 day moving average price is $204.93 and its 200-day moving average price is $198.21. Capital One Financial Corporation has a one year low of $174.24 and a one year high of $259.64. The stock has a market cap of $139.37 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 0.84 and a beta of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.79 by $1.02. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%.The firm had revenue of $15.83 billion during the quarter, compared to analyst estimates of $15.76 billion. During the same period last year, the company earned $5.48 EPS. Capital One Financial's quarterly revenue was up 26.9% compared to the same quarter last year. On average, equities analysts forecast that Capital One Financial Corporation will post 20.19 EPS for the current year.

Capital One Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.80 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a yield of 1.4%. Capital One Financial's dividend payout ratio (DPR) is presently 19.80%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings raised Capital One Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. Wall Street Zen downgraded Capital One Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. BTIG Research lifted their price objective on shares of Capital One Financial from $224.00 to $259.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Rothschild & Co Redburn cut their price objective on shares of Capital One Financial from $290.00 to $275.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, Piper Sandler started coverage on shares of Capital One Financial in a research note on Monday, June 29th. They issued an "overweight" rating and a $254.00 target price on the stock. Twenty-one analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Capital One Financial presently has an average rating of "Moderate Buy" and a consensus price target of $259.36.

Insiders Place Their Bets

In other news, insider Michael Zamsky sold 5,473 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $218.02, for a total value of $1,193,223.46. Following the transaction, the insider directly owned 27,992 shares in the company, valued at approximately $6,102,815.84. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Matthew W. Cooper sold 3,500 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $208.00, for a total transaction of $728,000.00. Following the completion of the transaction, the general counsel directly owned 90,194 shares in the company, valued at $18,760,352. This represents a 3.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,186 shares of company stock valued at $4,697,301 in the last three months. 0.78% of the stock is owned by company insiders.

Capital One Financial Profile

Capital One Financial Corporation NYSE: COF is a diversified bank holding company headquartered in McLean, Virginia. The company's core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.

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