Royal Bank of Canada Buys 527,989 Shares of Capital One Financial Corporation $COF

Key Points

• Royal Bank of Canada increased its stake in Capital One Financial by 22.3%, acquiring an additional 527,989 shares, bringing its total ownership to approximately $519.8 million.
• Capital One Financial reported a quarterly EPS of $5.48, exceeding analysts' expectations significantly, while its revenue increased 31.4% year-over-year.
• The company announced a quarterly dividend of $0.60 per share, reflecting an annualized yield of 1.1%, with a dividend payout ratio of 123.08%.

Royal Bank of Canada raised its stake in Capital One Financial Corporation (NYSE:COF - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,899,046 shares of the financial services provider's stock after buying an additional 527,989 shares during the period. Royal Bank of Canada owned about 0.76% of Capital One Financial worth $519,797,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of Capital One Financial in the 1st quarter worth $25,000. Saudi Central Bank bought a new position in shares of Capital One Financial in the 1st quarter worth $27,000. Beacon Capital Management LLC increased its holdings in shares of Capital One Financial by 118.3% in the 1st quarter. Beacon Capital Management LLC now owns 179 shares of the financial services provider's stock worth $32,000 after buying an additional 97 shares during the last quarter. Motco increased its holdings in shares of Capital One Financial by 115.1% in the 1st quarter. Motco now owns 256 shares of the financial services provider's stock worth $46,000 after buying an additional 137 shares during the last quarter. Finally, Bogart Wealth LLC increased its holdings in shares of Capital One Financial by 1,518.8% in the 1st quarter. Bogart Wealth LLC now owns 259 shares of the financial services provider's stock worth $46,000 after buying an additional 243 shares during the last quarter. Institutional investors own 89.84% of the company's stock.

Insiders Place Their Bets

In other Capital One Financial news, insider Michael Zamsky sold 5,515 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $209.59, for a total value of $1,155,888.85. Following the sale, the insider owned 27,364 shares of the company's stock, valued at $5,735,220.76. This trade represents a 16.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Timothy P. Golden sold 207 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $215.41, for a total transaction of $44,589.87. Following the completion of the sale, the chief accounting officer directly owned 8,780 shares of the company's stock, valued at approximately $1,891,299.80. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,298 shares of company stock valued at $4,233,044 in the last quarter. Insiders own 1.26% of the company's stock.

Capital One Financial Price Performance

Shares of Capital One Financial stock opened at $227.43 on Monday. The firm has a market cap of $145.44 billion, a PE ratio of 116.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.17. Capital One Financial Corporation has a 12-month low of $131.55 and a 12-month 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 company's fifty day simple moving average is $215.76 and its two-hundred day simple moving average is $194.93.

Capital One Financial (NYSE:COF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share (EPS) 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. Capital One Financial's revenue was up 31.4% on a year-over-year basis. During the same period last year, the business earned $3.14 EPS. As a group, equities analysts expect that Capital One Financial Corporation will post 15.65 EPS for the current year.

Capital One Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 15th. Capital One Financial's dividend payout ratio (DPR) is 123.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup increased their target price on shares of Capital One Financial from $250.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada increased their target price on shares of Capital One Financial from $240.00 to $255.00 and gave the company a "sector perform" rating in a report on Wednesday, July 23rd. Redburn Atlantic raised shares of Capital One Financial to a "strong-buy" rating in a report on Friday, August 1st. Truist Financial increased their target price on shares of Capital One Financial from $225.00 to $260.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Capital One Financial from $245.00 to $248.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.

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