Fonville Wealth Management LLC Purchases New Stake in Capital One Financial Corporation $COF

Key Points

• Fonville Wealth Management purchased 6,964 Capital One shares worth approximately $1.345 million in the third quarter. Institutional investors own 89.84% of the company, with major new positions from Berkshire Hathaway, Bank of America and Legal & General.
• Capital One exceeded quarterly expectations, reporting $6.69 in EPS versus the $5.53 consensus and $16.31 billion in revenue, up 6.4% year over year.
• Analysts maintain a bullish outlook, with 20 Buy ratings and four Holds and a consensus price target of $256.77; meanwhile, insiders sold $23.5 million of stock over the past three months.

Fonville Wealth Management LLC purchased a new stake in Capital One Financial Corporation (NYSE:COF - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,964 shares of the financial services provider's stock, valued at approximately $1,345,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in Capital One Financial by 107.9% during the 2nd quarter. State Street Corp now owns 57,278,732 shares of the financial services provider's stock worth $11,491,259,000 after purchasing an additional 29,724,829 shares during the period. Bank of America Corp DE purchased a new stake in shares of Capital One Financial in the 2nd quarter worth $1,435,311,000. Legal & General Group Plc purchased a new stake in shares of Capital One Financial in the 2nd quarter worth $680,983,000. Berkshire Hathaway Inc purchased a new stake in shares of Capital One Financial in the 2nd quarter worth $601,860,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Capital One Financial during the 2nd quarter worth $482,718,000. Institutional investors own 89.84% of the company's stock.

Insider Activity at Capital One Financial

In other Capital One Financial news, CEO Richard Fairbank sold 90,743 shares of the firm's stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $202.86, for a total value of $18,408,124.98. Following the completion of the sale, the chief executive officer directly owned 4,018,520 shares in the company, valued at $815,196,967.20. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Zamsky sold 5,473 shares of Capital One Financial stock in a transaction on Monday, August 10th. The stock was sold at an average price of $218.02, for a total transaction of $1,193,223.46. Following the completion of the transaction, the insider directly owned 27,992 shares in the company, valued at $6,102,815.84. This represents a 16.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 115,194 shares of company stock valued at $23,546,209 over the last three months. Company insiders own 0.78% of the company's stock.

Capital One Financial Stock Performance

COF stock opened at $208.70 on Friday. Capital One Financial Corporation has a one year low of $174.24 and a one year high of $259.64. The firm has a market cap of $128.03 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day simple moving average of $204.82 and a two-hundred day simple moving average of $201.76.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $6.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.53 by $1.16. Capital One Financial had a net margin of 13.70% and a return on equity of 11.64%. The firm had revenue of $16.31 billion for the quarter, compared to the consensus estimate of $16.25 billion. During the same quarter in the previous year, the firm earned $5.95 EPS. The company's quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that Capital One Financial Corporation will post 21.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler raised their price target on Capital One Financial from $260.00 to $269.00 and gave the company an "overweight" rating in a research note on Wednesday, October 21st. Weiss Ratings raised shares of Capital One Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 21st. Wolfe Research upped their price objective on shares of Capital One Financial from $255.00 to $275.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 25th. Bank of America dropped their target price on shares of Capital One Financial from $234.00 to $231.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Finally, BMO Capital Markets raised their target price on shares of Capital One Financial from $219.00 to $225.00 and gave the company a "market perform" rating in a research report on Wednesday, October 21st. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $256.77.

About Capital One Financial

Capital One Financial Corporation is a diversified financial services company headquartered in McLean, Virginia. Founded in 1994, the company operates as a bank holding company through Capital One, N.A., providing financial products and services to consumers, small businesses and commercial customers.

Capital One is best known for its credit card business, which offers a range of consumer and business cards. Its other activities include consumer banking products such as checking and savings accounts, auto loans and retail banking services, as well as commercial banking services for businesses and institutions.

The company primarily serves customers in the United States through digital channels, branches and other distribution networks.

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