MGB Wealth Management LLC Takes $313,000 Position in Capital One Financial Corporation (NYSE:COF)

Key Points

• MGB Wealth Management LLC acquired 1,746 shares of Capital One Financial Corporation valued at approximately $313,000 during the first quarter of the year.
• Capital One reported quarterly earnings of $5.48 per share, significantly exceeding analysts' expectations of $1.93, while also achieving a revenue growth of 31.4% year-over-year.
• The company announced a quarterly dividend of $0.60 per share, with a dividend yield of 1.1%, reflecting a dividend payout ratio of 123.08%.

MGB Wealth Management LLC purchased a new stake in Capital One Financial Corporation (NYSE:COF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,746 shares of the financial services provider's stock, valued at approximately $313,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its position in Capital One Financial by 118.3% during the first quarter. Beacon Capital Management LLC now owns 179 shares of the financial services provider's stock worth $32,000 after purchasing an additional 97 shares during the period. Motco raised its position in shares of Capital One Financial by 115.1% in the first quarter. Motco now owns 256 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 137 shares during the period. Bogart Wealth LLC raised its position in shares of Capital One Financial by 1,518.8% in the first quarter. Bogart Wealth LLC now owns 259 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 243 shares during the period. Rossby Financial LCC acquired a new stake in shares of Capital One Financial in the first quarter worth $48,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Capital One Financial during the 1st quarter worth $54,000. Institutional investors and hedge funds own 89.84% of the company's stock.

Capital One Financial Stock Performance

Capital One Financial stock traded up $1.03 on Friday, hitting $208.32. The company's stock had a trading volume of 3,108,026 shares, compared to its average volume of 4,080,770. The company has a fifty day moving average price of $208.61 and a 200-day moving average price of $193.18. The firm has a market cap of $133.22 billion, a P/E ratio of 106.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.16. Capital One Financial Corporation has a one year low of $131.55 and a one year high of $232.45. 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 posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $3.55. The business had revenue of $12.49 billion during the quarter, compared to analyst estimates of $12.72 billion. The business's revenue for the quarter was up 31.4% on a year-over-year basis. During the same period last year, the company earned $3.14 EPS. On average, equities analysts anticipate that Capital One Financial Corporation will post 15.65 earnings per share for the current year.

Capital One Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $2.40 annualized dividend and a yield of 1.2%. Capital One Financial's payout ratio is currently 123.08%.

Analyst Ratings Changes

Several research analysts recently commented on COF shares. Wells Fargo & Company lifted their target price on shares of Capital One Financial from $225.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their price objective on Capital One Financial from $240.00 to $255.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Capital One Financial from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Barclays reaffirmed an "overweight" rating and issued a $253.00 target price (up previously from $212.00) on shares of Capital One Financial in a report on Monday, June 23rd. Finally, TD Cowen upgraded Capital One Financial from a "hold" rating to a "buy" rating and upped their price target for the stock from $184.00 to $258.00 in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Capital One Financial presently has an average rating of "Moderate Buy" and an average target price of $238.81.

Insider Activity at Capital One Financial

In other news, insider Robert M. Alexander sold 10,114 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $227.86, for a total value of $2,304,576.04. Following the sale, the insider owned 68,707 shares in the company, valued at approximately $15,655,577.02. The trade was a 12.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann F. Hackett sold 1,658 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $198.70, for a total transaction of $329,444.60. Following the sale, the director owned 56,244 shares of the company's stock, valued at $11,175,682.80. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,847 shares of company stock valued at $5,696,173 in the last 90 days. 1.26% of the stock is owned by corporate insiders.

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.