Meridian Investment Counsel Inc. Has $4.60 Million Stock Holdings in Capital One Financial Corporation $COF

Key Points

• Meridian Investment Counsel increased its stake in Capital One Financial by 66.2% in the first quarter, ending with 25,195 shares valued at about $4.6 million. The stock now represents roughly 1.1% of the firm’s portfolio.
• Insider selling was reported by General Counsel Matthew W. Cooper and insider Celia Karam, both of whom sold shares under pre-arranged Rule 10b5-1 trading plans. Insiders own 0.78% of the company’s stock.
• Capital One’s latest earnings missed expectations, posting $4.42 EPS versus the $5.08 estimate, while revenue came in at $15.23 billion. The company also pays a quarterly dividend of $0.80 per share, annualized to $3.20 for a 1.6% yield.

Meridian Investment Counsel Inc. grew its holdings in Capital One Financial Corporation (NYSE:COF) by 66.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,195 shares of the financial services provider's stock after acquiring an additional 10,034 shares during the period. Capital One Financial accounts for approximately 1.1% of Meridian Investment Counsel Inc.'s holdings, making the stock its 17th largest position. Meridian Investment Counsel Inc.'s holdings in Capital One Financial were worth $4,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Abel Hall LLC lifted its stake in shares of Capital One Financial by 32.5% in the 1st quarter. Abel Hall LLC now owns 3,395 shares of the financial services provider's stock valued at $619,000 after purchasing an additional 832 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Capital One Financial by 6.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 44,576 shares of the financial services provider's stock worth $8,211,000 after buying an additional 2,770 shares during the last quarter. Whittier Trust Co. increased its position in Capital One Financial by 10.4% during the first quarter. Whittier Trust Co. now owns 114,335 shares of the financial services provider's stock worth $21,062,000 after buying an additional 10,751 shares during the last quarter. Bogart Wealth LLC raised its holdings in Capital One Financial by 23.3% during the first quarter. Bogart Wealth LLC now owns 523 shares of the financial services provider's stock valued at $95,000 after buying an additional 99 shares in the last quarter. Finally, Seascape Capital Management raised its holdings in Capital One Financial by 0.8% during the first quarter. Seascape Capital Management now owns 27,950 shares of the financial services provider's stock valued at $5,099,000 after buying an additional 218 shares in the last quarter. Institutional investors own 89.84% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Matthew W. Cooper sold 3,500 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $183.93, for a total transaction of $643,755.00. Following the completion of the transaction, the general counsel directly owned 97,194 shares in the company, valued at $17,876,892.42. This represents a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 1,749 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $192.58, for a total transaction of $336,822.42. Following the completion of the sale, the insider directly owned 61,579 shares of the company's stock, valued at approximately $11,858,883.82. This trade represents a 2.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.78% of the company's stock.

Capital One Financial Price Performance

Shares of NYSE:COF opened at $204.94 on Monday. The business has a 50 day moving average price of $191.12 and a 200 day moving average price of $204.59. 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 $127.53 billion, a price-to-earnings ratio of 71.91, a PEG ratio of 0.74 and a beta of 1.02. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.46.

Capital One Financial (NYSE:COF - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The financial services provider reported $4.42 EPS for the quarter, missing the consensus estimate of $5.08 by ($0.66). Capital One Financial had a return on equity of 10.59% and a net margin of 4.29%.The business had revenue of $15.23 billion during the quarter, compared to the consensus estimate of $15.68 billion. During the same period in the prior year, the firm earned $4.06 earnings per share. The business's quarterly revenue was up 52.3% on a year-over-year basis. Research analysts predict that Capital One Financial Corporation will post 19.53 earnings per share for the current year.

Capital One Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 19th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.20 dividend on an annualized basis and a yield of 1.6%. Capital One Financial's payout ratio is 112.28%.

Analyst Upgrades and Downgrades

COF has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Capital One Financial from $256.00 to $250.00 and set a "hold" rating for the company in a research note on Wednesday, April 22nd. Barclays boosted their target price on Capital One Financial from $226.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, April 22nd. Rothschild & Co Redburn decreased their target price on Capital One Financial from $290.00 to $275.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group lowered their price target on Capital One Financial from $300.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, Argus dropped their price target on shares of Capital One Financial from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $260.19.

Capital One Financial Profile

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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