Montanova Capital LLC Buys 30,698 Shares of Capital One Financial Corporation $COF

Key Points

• Montanova Capital increased its Capital One stake by 10.2% in the second quarter, adding 30,698 shares to own 333,098 shares worth approximately $66.8 million. Institutional investors collectively own 89.84% of COF.
• Capital One reported quarterly EPS of $5.81, exceeding estimates by $1.02, while revenue rose 26.9% year over year to $15.83 billion.
• The company declared a quarterly dividend of $0.80, equivalent to a $3.20 annual payout and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $258.91.

Montanova Capital LLC grew its stake in Capital One Financial Corporation (NYSE:COF) by 10.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,098 shares of the financial services provider's stock after purchasing an additional 30,698 shares during the period. Capital One Financial comprises about 1.1% of Montanova Capital LLC's investment portfolio, making the stock its 25th biggest position. Montanova Capital LLC owned about 0.05% of Capital One Financial worth $66,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Capital One Financial in the 4th quarter worth approximately $2,089,803,000. Bank of America Corp DE acquired a new stake in Capital One Financial during the second quarter worth $1,435,311,000. Legal & General Group Plc bought a new stake in Capital One Financial in the 2nd quarter valued at $680,983,000. Berkshire Hathaway Inc acquired a new position in shares of Capital One Financial in the 2nd quarter valued at $601,860,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Capital One Financial during the 2nd quarter worth about $482,718,000. Institutional investors own 89.84% of the company's stock.

Capital One Financial Trading Down 0.5%

Shares of Capital One Financial stock opened at $214.67 on Tuesday. Capital One Financial Corporation has a 12-month low of $174.24 and a 12-month high of $259.64. The stock has a market capitalization of $131.70 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 0.79 and a beta of 1.02. The company has a 50-day simple moving average of $210.59 and a 200 day simple moving average of $197.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.39.

Capital One Financial (NYSE:COF - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $5.81 EPS for the quarter, beating analysts' consensus estimates of $4.79 by $1.02. The firm had revenue of $15.83 billion for 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 company's revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the previous year, the business earned $5.48 earnings per share. Research analysts expect that Capital One Financial Corporation will post 20.29 earnings per share for the current fiscal year.

Capital One Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 17th. Capital One Financial's payout ratio is presently 19.80%.

Insiders Place Their Bets

In related news, insider Michael Zamsky sold 5,473 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $218.02, for a total transaction of $1,193,223.46. Following the sale, the insider directly owned 27,992 shares in the company, valued at $6,102,815.84. This represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ravi Raghu sold 9,726 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $209.78, for a total value of $2,040,320.28. Following the sale, the insider directly owned 26,328 shares of the company's stock, valued at $5,523,087.84. This represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,267 shares of company stock worth $5,617,648 over the last ninety days. 0.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COF. Piper Sandler initiated 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. HSBC raised Capital One Financial from a "hold" rating to a "buy" rating and lifted their price objective for the company from $226.00 to $229.00 in a report on Sunday, July 12th. BTIG Research upped their price objective on Capital One Financial from $224.00 to $259.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Weiss Ratings raised Capital One Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 13th. Finally, Wall Street Zen lowered Capital One Financial from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Twenty-one research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $258.91.

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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