First Citizens Financial Corp Takes Position in Capital One Financial Corporation $COF

Key Points

• First Citizens Financial Corp has acquired a new stake in Capital One Financial Corporation worth approximately $357,000 during the second quarter, reflecting increasing institutional interest in the company.
• Capital One Financial received several analyst upgrades, with Redburn Atlantic upgrading it to a "strong-buy" and TD Cowen raising their target price significantly to $258.00.
• Insiders at Capital One sold over 21,000 shares in the past ninety days, indicating a reduction in their ownership despite the company’s strong performance and increasing share price.

First Citizens Financial Corp acquired a new stake in Capital One Financial Corporation (NYSE:COF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,677 shares of the financial services provider's stock, valued at approximately $357,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Greenfield Savings Bank purchased a new stake in shares of Capital One Financial in the second quarter valued at $549,000. Nova Wealth Management Inc. boosted its holdings in Capital One Financial by 629.6% in the second quarter. Nova Wealth Management Inc. now owns 197 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 170 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in Capital One Financial in the second quarter valued at $275,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Capital One Financial by 16.2% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,234 shares of the financial services provider's stock valued at $1,965,000 after acquiring an additional 1,288 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Capital One Financial by 238.9% in the second quarter. Salem Investment Counselors Inc. now owns 44,437 shares of the financial services provider's stock valued at $9,454,000 after acquiring an additional 31,326 shares during the last quarter. Hedge funds and other institutional investors own 89.84% of the company's stock.

Analyst Upgrades and Downgrades

COF has been the topic of a number of research analyst reports. Redburn Atlantic upgraded Capital One Financial to a "strong-buy" rating in a report on Friday, August 1st. Barclays reiterated an "overweight" rating and issued a $253.00 target price (up previously from $212.00) on shares of Capital One Financial in a report on Monday, June 23rd. TD Cowen upgraded Capital One Financial from a "hold" rating to a "buy" rating and lifted their target price for the company from $184.00 to $258.00 in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on Capital One Financial from $245.00 to $248.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Capital One Financial from $248.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $239.44.

Insiders Place Their Bets

In related news, insider Michael Zamsky sold 5,515 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $209.59, for a total value of $1,155,888.85. Following the transaction, the insider owned 27,364 shares in the company, valued at approximately $5,735,220.76. The trade was a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Matthew W. Cooper sold 2,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $223.40, for a total value of $446,800.00. Following the completion of the transaction, the general counsel owned 100,486 shares in the company, valued at approximately $22,448,572.40. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,298 shares of company stock worth $4,679,844. 1.26% of the stock is owned by insiders.

Capital One Financial Trading Down 0.3%

Shares of COF opened at $223.59 on Friday. The stock's 50-day moving average is $217.89 and its two-hundred day moving average is $196.49. The stock has a market cap of $142.99 billion, a PE ratio of 114.66, a P/E/G ratio of 0.87 and a beta of 1.17. Capital One Financial Corporation has a 12 month low of $137.64 and a 12 month high of $232.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $5.48 EPS for the quarter, topping analysts' consensus estimates 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. The company's revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.14 EPS. Equities analysts forecast that Capital One Financial Corporation will post 15.65 earnings per share for the current fiscal year.

Capital One Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were paid a $0.60 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. Capital One Financial's payout ratio is 123.08%.

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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