HighTower Advisors LLC Raises Stock Position in Capital One Financial Corporation $COF

Key Points

• HighTower Advisors increased its Capital One Financial position by 1.6% in the second quarter, bringing its holdings to 382,910 shares valued at approximately $76.8 million. Institutional investors collectively own 89.84% of COF.
• Capital One reported quarterly earnings of $5.81 per share, beating estimates by $1.02, while revenue rose 26.9% year over year to $15.83 billion. The company also declared a quarterly dividend of $0.80 per share, equal to a 1.4% annual yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $259.36, compared with the stock’s reported price of $227.19. Meanwhile, insiders have sold 22,186 shares worth roughly $4.7 million over the past 90 days.

HighTower Advisors LLC lifted its holdings in Capital One Financial Corporation (NYSE:COF - Free Report) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 382,910 shares of the financial services provider's stock after buying an additional 5,944 shares during the period. HighTower Advisors LLC owned about 0.06% of Capital One Financial worth $76,819,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in COF. Vanguard Group Inc. increased its stake in Capital One Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 56,897,238 shares of the financial services provider's stock worth $13,789,615,000 after acquiring an additional 360,071 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Capital One Financial by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 12,476,462 shares of the financial services provider's stock valued at $3,023,795,000 after purchasing an additional 638,158 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Capital One Financial by 3.9% in the 4th quarter. Morgan Stanley now owns 8,677,981 shares of the financial services provider's stock worth $2,103,196,000 after purchasing an additional 323,350 shares during the period. Norges Bank purchased a new position in shares of Capital One Financial in the 4th quarter worth approximately $2,089,803,000. Finally, Davis Selected Advisers increased its position in shares of Capital One Financial by 2.8% during the 4th quarter. Davis Selected Advisers now owns 8,614,766 shares of the financial services provider's stock valued at $2,087,878,000 after purchasing an additional 234,649 shares during the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Capital One Financial

In other news, CAO Timothy P. Golden sold 3,487 shares of Capital One Financial stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $211.00, for a total transaction of $735,757.00. Following the completion of the sale, the chief accounting officer owned 7,429 shares of the company's stock, valued at approximately $1,567,519. The trade was a 31.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Zamsky sold 5,473 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider owned 27,992 shares of the company's stock, valued at $6,102,815.84. The trade was a 16.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,186 shares of company stock valued at $4,697,301 over the last 90 days. 0.78% of the stock is currently owned by insiders.

Capital One Financial Stock Up 1.5%

NYSE:COF opened at $227.19 on Friday. Capital One Financial Corporation has a twelve month low of $174.24 and a twelve month high of $259.64. The company has a market cap of $139.37 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02. The stock has a fifty day simple moving average of $204.93 and a 200-day simple moving average of $198.21. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.

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

Capital One Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, August 17th. Capital One Financial's payout ratio is 19.80%.

Wall Street Analysts Forecast Growth

COF has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on Capital One Financial from $256.00 to $250.00 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. Piper Sandler assumed 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. Citigroup lowered their target price on shares of Capital One Financial from $310.00 to $295.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. Bank of America cut 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 report on Thursday, July 9th. Finally, Truist Financial decreased their price objective on shares of Capital One Financial from $275.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Twenty-one investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Capital One Financial has a consensus rating of "Moderate Buy" and an average target price of $259.36.

About Capital One Financial

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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