Palmer Knight Co Trims Position in Capital One Financial Corporation $COF

Key Points

• Palmer Knight Co reduced its stake in Capital One Financial by 19.4%, owning 39,036 shares after selling 9,409 shares in the second quarter, with a holdings value of approximately $8.3 million.
• Capital One reported $5.48 earnings per share for the last quarter, significantly exceeding analysts' expectations of $1.93 and representing a 31.4% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.60, which translates to an annualized dividend yield of 1.1%, although its payout ratio is high at 123.08%.

Palmer Knight Co lessened its stake in shares of Capital One Financial Corporation (NYSE:COF) by 19.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,036 shares of the financial services provider's stock after selling 9,409 shares during the quarter. Capital One Financial comprises 3.5% of Palmer Knight Co's portfolio, making the stock its 12th largest holding. Palmer Knight Co's holdings in Capital One Financial were worth $8,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eagle Bay Advisors LLC boosted its position in shares of Capital One Financial by 3.6% during the 2nd quarter. Eagle Bay Advisors LLC now owns 1,407 shares of the financial services provider's stock valued at $299,000 after acquiring an additional 49 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. boosted its position in shares of Capital One Financial by 0.3% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 16,603 shares of the financial services provider's stock valued at $3,532,000 after acquiring an additional 50 shares during the last quarter. TFB Advisors LLC boosted its position in shares of Capital One Financial by 3.4% during the 1st quarter. TFB Advisors LLC now owns 1,539 shares of the financial services provider's stock valued at $276,000 after acquiring an additional 51 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Capital One Financial by 0.9% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,117 shares of the financial services provider's stock valued at $1,097,000 after acquiring an additional 53 shares during the last quarter. Finally, tru Independence LLC boosted its position in shares of Capital One Financial by 1.7% during the 2nd quarter. tru Independence LLC now owns 3,202 shares of the financial services provider's stock valued at $681,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 89.84% of the company's stock.

Capital One Financial Stock Performance

NYSE:COF opened at $211.25 on Friday. The business has a 50 day moving average of $219.01 and a 200 day moving average of $203.37. The company has a market capitalization of $135.10 billion, a price-to-earnings ratio of 108.33, a PEG ratio of 0.76 and a beta of 1.18. Capital One Financial Corporation has a 1-year low of $143.22 and a 1-year high of $232.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.02.

Capital One Financial (NYSE:COF - Get Free Report) last released its earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $3.55. The firm had revenue of $12.49 billion during the quarter, compared to the consensus estimate of $12.72 billion. The business's quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.14 EPS. On average, sell-side analysts predict that Capital One Financial Corporation will post 15.65 earnings per share for the current fiscal year.

Capital One Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a $0.60 dividend. The ex-dividend date was Friday, August 15th. This represents a $2.40 annualized dividend and a yield of 1.1%. Capital One Financial's payout ratio is presently 123.08%.

Insider Buying and Selling

In other Capital One Financial news, CAO Timothy P. Golden sold 207 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer owned 8,780 shares in the company, valued at approximately $1,891,299.80. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Matthew W. Cooper sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $211.99, for a total value of $423,980.00. Following the completion of the sale, the general counsel owned 98,486 shares of the company's stock, valued at $20,878,047.14. The trade was a 1.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,298 shares of company stock worth $5,103,824. Company insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COF. Wells Fargo & Company lifted their price target on Capital One Financial from $225.00 to $265.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. dropped their price target on Capital One Financial from $248.00 to $235.00 and set a "neutral" rating for the company in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Capital One Financial from $215.00 to $224.00 and gave the company a "hold" rating in a research report on Thursday, October 2nd. Redburn Atlantic upgraded Capital One Financial to a "strong-buy" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group dropped their target price on Capital One Financial from $276.00 to $266.00 and set a "buy" rating for the company in a research report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $252.78.

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.

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