NewEdge Advisors LLC Trims Stake in Capital One Financial Corporation $COF

Key Points

• NewEdge Advisors reduced its Capital One Financial stake by 18% in the first quarter, selling 7,644 shares and retaining 34,744 shares valued at approximately $6.34 million. Institutional investors collectively own 89.84% of the company.
• 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. Shares were recently trading at $218.62.
• The company declared a quarterly dividend of $0.80 per share, equal to a $3.20 annualized payout and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $259.36, despite several recent target reductions.

NewEdge Advisors LLC cut its holdings in Capital One Financial Corporation (NYSE:COF - Free Report) by 18.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,744 shares of the financial services provider's stock after selling 7,644 shares during the period. NewEdge Advisors LLC's holdings in Capital One Financial were worth $6,338,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of COF. First Command Advisory Services Inc. raised its holdings in Capital One Financial by 4.5% in the 4th quarter. First Command Advisory Services Inc. now owns 1,067 shares of the financial services provider's stock worth $259,000 after purchasing an additional 46 shares during the period. Dogwood Wealth Management LLC grew its holdings in Capital One Financial by 26.0% during the fourth quarter. Dogwood Wealth Management LLC now owns 228 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 47 shares during the period. High Note Wealth LLC increased its position in Capital One Financial by 44.9% in the fourth quarter. High Note Wealth LLC now owns 155 shares of the financial services provider's stock worth $38,000 after buying an additional 48 shares in the last quarter. Fiducient Advisors LLC increased its position in Capital One Financial by 4.2% in the fourth quarter. Fiducient Advisors LLC now owns 1,196 shares of the financial services provider's stock worth $290,000 after buying an additional 48 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. raised its stake in shares of Capital One Financial by 5.0% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 1,057 shares of the financial services provider's stock worth $256,000 after buying an additional 50 shares during the period. Institutional investors own 89.84% of the company's stock.

Capital One Financial Trading Up 0.4%

Shares of NYSE:COF opened at $218.62 on Tuesday. The business has a 50-day moving average price of $201.60 and a 200-day moving average price of $198.14. Capital One Financial Corporation has a 52-week low of $174.24 and a 52-week high of $259.64. The stock has a market cap of $134.12 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.80 and a beta of 1.02. 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 earnings results on Tuesday, July 21st. The financial services provider reported $5.81 EPS for the quarter, topping analysts' consensus estimates of $4.79 by $1.02. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The business had revenue of $15.83 billion during the quarter, compared to analysts' expectations of $15.76 billion. During the same quarter in the previous year, the company earned $5.48 earnings per share. The company's quarterly revenue was up 26.9% on a year-over-year basis. Equities analysts predict that Capital One Financial Corporation will post 20.19 EPS for the current year.

Capital One Financial Dividend Announcement

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

Insider Buying and Selling at Capital One Financial

In related news, insider Ravi Raghu sold 9,726 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $209.78, for a total value of $2,040,320.28. Following the completion of the transaction, the insider directly owned 26,328 shares of the company's stock, valued at approximately $5,523,087.84. This represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Timothy P. Golden sold 3,487 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $211.00, for a total value of $735,757.00. Following the completion of the transaction, the chief accounting officer owned 7,429 shares in the company, valued at $1,567,519. The trade was a 31.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,713 shares of company stock valued at $3,504,077 over the last quarter. 0.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on COF. Argus cut their price objective on Capital One Financial from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Truist Financial cut their price objective on shares of Capital One Financial from $275.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Wall Street Zen lowered shares of Capital One Financial from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Rothschild & Co Redburn dropped their price target on shares of Capital One Financial from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Finally, Barclays cut their price target on shares of Capital One Financial from $242.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Capital One Financial currently has a consensus rating of "Moderate Buy" and an average price target of $259.36.

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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