Palestra Capital Management LLC Sells 50,687 Shares of Capital One Financial Corporation $COF

Key Points

• Palestra Capital Management LLC reduced its holdings in Capital One Financial by 5.6%, selling 50,687 shares, and now owns 850,672 shares, which represents about 6.0% of its investment portfolio.
• Capital One Financial recently reported $5.48 earnings per share for the quarter, substantially surpassing the consensus estimate of $1.93, with a 31.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.60, translating to an annual yield of 1.1%, with a payout ratio currently at 123.08%.

Palestra Capital Management LLC decreased its stake in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 850,672 shares of the financial services provider's stock after selling 50,687 shares during the quarter. Capital One Financial comprises 6.0% of Palestra Capital Management LLC's holdings, making the stock its 5th largest position. Palestra Capital Management LLC owned 0.22% of Capital One Financial worth $152,525,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Capital One Financial by 18.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,882 shares of the financial services provider's stock valued at $10,010,000 after acquiring an additional 9,374 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in Capital One Financial by 105.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 768 shares of the financial services provider's stock worth $138,000 after purchasing an additional 394 shares during the period. Private Advisor Group LLC boosted its holdings in Capital One Financial by 15.3% in the 1st quarter. Private Advisor Group LLC now owns 9,904 shares of the financial services provider's stock valued at $1,776,000 after purchasing an additional 1,312 shares during the last quarter. Mutual Advisors LLC purchased a new stake in shares of Capital One Financial in the 1st quarter valued at approximately $215,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Capital One Financial during the 4th quarter worth approximately $91,780,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Timothy P. Golden sold 207 shares of Capital One Financial stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $215.41, for a total value of $44,589.87. Following the completion of the transaction, the chief accounting officer directly owned 8,780 shares in the company, valued at approximately $1,891,299.80. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Matthew W. Cooper sold 2,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $223.40, for a total value of $446,800.00. Following the transaction, the general counsel directly owned 100,486 shares of the company's stock, valued at $22,448,572.40. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,298 shares of company stock valued at $4,679,844 in the last three months. 1.26% of the stock is currently owned by insiders.

Capital One Financial Trading Up 0.5%

NYSE:COF traded up $1.13 on Thursday, reaching $224.56. 2,101,110 shares of the company's stock were exchanged, compared to its average volume of 4,316,259. The firm has a market capitalization of $143.61 billion, a price-to-earnings ratio of 115.16, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17. Capital One Financial Corporation has a 52-week low of $134.73 and a 52-week 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. The business has a fifty day moving average of $217.77 and a 200-day moving average of $196.12.

Capital One Financial (NYSE:COF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share for the quarter, beating analysts' consensus estimates 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. During the same quarter last year, the firm posted $3.14 EPS. The company's revenue for the quarter was up 31.4% on a year-over-year basis. As a group, analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. Capital One Financial's dividend payout ratio is currently 123.08%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Capital One Financial from $225.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Bank of America upped their price target on Capital One Financial from $223.00 to $233.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Wall Street Zen downgraded Capital One Financial from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Capital One Financial from $248.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Finally, Citigroup increased their target price on shares of Capital One Financial from $250.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Capital One Financial presently has an average rating of "Moderate Buy" and a consensus target price of $238.81.

Capital One Financial 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.