HB Wealth Management LLC Boosts Stake in Capital One Financial Corporation $COF

Key Points

• HB Wealth Management LLC increased its stake in Capital One Financial Corporation by 69.3% in Q2 2023, now owning 24,324 shares valued at approximately $5.17 million.
• Capital One's recent earnings report showed an EPS of $5.48, exceeding expectations, with quarterly revenue of $12.49 billion, up 31.4% year-over-year.
• The company declared a quarterly dividend of $0.60 per share, with a payout ratio of 123.08%, reflecting strong institutional interest as 89.84% of the stock is owned by such investors.

HB Wealth Management LLC increased its position in shares of Capital One Financial Corporation (NYSE:COF) by 69.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,324 shares of the financial services provider's stock after purchasing an additional 9,954 shares during the quarter. HB Wealth Management LLC's holdings in Capital One Financial were worth $5,175,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moisand Fitzgerald Tamayo LLC raised its holdings in Capital One Financial by 103.3% during the second quarter. Moisand Fitzgerald Tamayo LLC now owns 122 shares of the financial services provider's stock worth $26,000 after purchasing an additional 62 shares during the last quarter. Signature Resources Capital Management LLC acquired a new position in Capital One Financial during the second quarter worth $28,000. WPG Advisers LLC acquired a new position in Capital One Financial during the first quarter worth $25,000. Saudi Central Bank acquired a new position in Capital One Financial during the first quarter worth $27,000. Finally, Physician Wealth Advisors Inc. raised its holdings in Capital One Financial by 1,200.0% during the second quarter. Physician Wealth Advisors Inc. now owns 156 shares of the financial services provider's stock worth $33,000 after purchasing an additional 144 shares during the last quarter. 89.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Timothy P. Golden sold 207 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $215.41, for a total transaction of $44,589.87. Following the sale, the chief accounting officer directly owned 8,780 shares in the company, valued at approximately $1,891,299.80. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Zamsky sold 5,515 shares of the stock in a transaction that occurred on 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 sale, the insider owned 27,364 shares in the company, valued at $5,735,220.76. The trade was a 16.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,298 shares of company stock valued at $4,679,844 over the last quarter. Company insiders own 1.26% of the company's stock.

Capital One Financial Trading Down 5.0%

Shares of NYSE COF opened at $212.50 on Wednesday. The stock's 50 day moving average price is $219.34 and its two-hundred day moving average price is $200.23. Capital One Financial Corporation has a 52-week low of $143.22 and a 52-week high of $232.45. The stock has a market capitalization of $135.90 billion, a P/E ratio of 108.97, a PEG ratio of 0.86 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47.

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

Capital One Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COF. TD Cowen raised Capital One Financial from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $184.00 to $258.00 in a report on Tuesday, July 8th. Rothschild & Co Redburn assumed 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. JPMorgan Chase & Co. boosted their price target on Capital One Financial from $245.00 to $248.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Citigroup boosted their price target on Capital One Financial from $250.00 to $275.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Truist Financial boosted their price target on Capital One Financial from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, September 12th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.29.

Capital One Financial Company Profile

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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