Forvis Mazars Wealth Advisors LLC Purchases 47,562 Shares of Capital One Financial Corporation $COF

Key Points

• Forvis Mazars Wealth Advisors increased its Capital One position by 224.5% in the third quarter, purchasing 47,562 additional shares for a total holding of 68,751 shares valued at approximately $13.3 million. Institutional investors collectively own 89.84% of COF.
• Capital One shares fell 1.6% to $197.96, despite the company reporting quarterly earnings of $5.81 per share, exceeding analyst expectations of $4.79, while revenue rose 26.9% year over year to $15.83 billion.
• The company declared a quarterly dividend of $0.80, equivalent to an annualized $3.20 payout and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $255.04.

Forvis Mazars Wealth Advisors LLC raised its position in Capital One Financial Corporation (NYSE:COF) by 224.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,751 shares of the financial services provider's stock after purchasing an additional 47,562 shares during the quarter. Forvis Mazars Wealth Advisors LLC's holdings in Capital One Financial were worth $13,274,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COF. Courier Capital LLC raised its position in Capital One Financial by 64.3% in the third quarter. Courier Capital LLC now owns 17,246 shares of the financial services provider's stock valued at $3,330,000 after purchasing an additional 6,747 shares during the period. Fragasso Financial Advisors Inc grew its holdings in shares of Capital One Financial by 62.7% during the 3rd quarter. Fragasso Financial Advisors Inc now owns 1,772 shares of the financial services provider's stock worth $353,000 after purchasing an additional 683 shares during the period. Fermata Advisors LLC purchased a new position in shares of Capital One Financial during the 3rd quarter worth $258,000. NorthCrest Asset Manangement LLC increased its position in shares of Capital One Financial by 21.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 89,494 shares of the financial services provider's stock worth $16,229,000 after purchasing an additional 15,757 shares during the last quarter. Finally, Perpetual Ltd increased its position in shares of Capital One Financial by 144.1% during the 3rd quarter. Perpetual Ltd now owns 13,670 shares of the financial services provider's stock worth $2,639,000 after purchasing an additional 8,070 shares during the last quarter. Hedge funds and other institutional investors own 89.84% of the company's stock.

Capital One Financial Stock Down 1.6%

Shares of COF stock traded down $3.18 during trading on Tuesday, reaching $197.96. The company's stock had a trading volume of 4,639,405 shares, compared to its average volume of 4,641,082. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $121.44 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 0.73 and a beta of 1.04. The stock's 50-day moving average price is $209.35 and its 200 day moving average price is $199.97. Capital One Financial Corporation has a 1-year low of $174.24 and a 1-year high of $259.64.

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 for the quarter, topping the consensus estimate of $4.79 by $1.02. The company had revenue of $15.83 billion for the quarter, compared to the consensus estimate of $15.76 billion. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%. Capital One Financial's revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.48 EPS. On average, research analysts anticipate that Capital One Financial Corporation will post 20.33 EPS for the current year.

Capital One Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Monday, August 17th. Capital One Financial's dividend payout ratio is 19.80%.

Insider Buying and Selling

In other Capital One Financial news, CAO Timothy P. Golden sold 3,487 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $211.00, for a total value of $735,757.00. Following the transaction, the chief accounting officer directly owned 7,429 shares in the company, valued at $1,567,519. This represents a 31.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ravi Raghu sold 9,726 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $209.78, for a total transaction of $2,040,320.28. Following the sale, the insider directly owned 26,328 shares in the company, valued at approximately $5,523,087.84. The trade was a 26.98% 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 sold a total of 33,850 shares of company stock valued at $7,167,152 over the last three months. 0.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on COF. BTIG Research upped their target price on shares of Capital One Financial from $224.00 to $259.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Bank of America reduced their price target on shares of Capital One Financial from $234.00 to $231.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Evercore set a $220.00 price target on shares of Capital One Financial in a research note on Thursday, October 1st. Wall Street Zen lowered shares of Capital One Financial from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $245.00 price objective on shares of Capital One Financial in a research report on Thursday, August 20th. Twenty research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Capital One Financial presently has a consensus rating of "Moderate Buy" and an average target price of $255.04.

Capital One Financial Company Profile

Capital One Financial Corp. is a diversified financial services company headquartered in McLean, Virginia. Founded in 1994, the company provides credit cards, consumer banking products, auto financing and commercial banking services through its Capital One brand.

Capital One offers credit cards for consumers and businesses, checking and savings accounts, certificates of deposit, personal loans and auto loans. Its commercial banking operations serve businesses, institutions and commercial real estate clients with lending, deposit, treasury management and other financial services.

Capital One primarily serves customers in the United States, with additional operations in Canada and the United Kingdom.

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