Salem Investment Counselors Inc. Buys 31,326 Shares of Capital One Financial Corporation $COF

Key Points

• Salem Investment Counselors Inc. increased its stake in Capital One Financial by 238.9%, acquiring an additional 31,326 shares, bringing their total to 44,437 shares valued at approximately $9.5 million.
• Insider Michael Zamsky sold 5,515 shares for over $1.15 million, decreasing his ownership by 16.77%.
• Capital One recently announced a quarterly dividend of $0.60 per share, with an annualized yield of 1.1% and a payout ratio of 123.08%.

Salem Investment Counselors Inc. boosted its holdings in shares of Capital One Financial Corporation (NYSE:COF - Free Report) by 238.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,437 shares of the financial services provider's stock after purchasing an additional 31,326 shares during the period. Salem Investment Counselors Inc.'s holdings in Capital One Financial were worth $9,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COF. Diamond Hill Capital Management Inc. acquired a new stake in Capital One Financial during the 1st quarter valued at $381,848,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Capital One Financial by 45.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,677,128 shares of the financial services provider's stock worth $838,609,000 after purchasing an additional 1,454,595 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Capital One Financial by 23.7% during the first quarter. Bank of New York Mellon Corp now owns 4,961,063 shares of the financial services provider's stock worth $889,519,000 after purchasing an additional 950,415 shares during the period. Nuveen LLC acquired a new stake in shares of Capital One Financial during the first quarter worth $141,599,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Capital One Financial by 31.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,222,533 shares of the financial services provider's stock worth $574,642,000 after purchasing an additional 765,292 shares during the period. 89.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Capital One Financial

In other news, insider Michael Zamsky sold 5,515 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $209.59, for a total value of $1,155,888.85. Following the transaction, the insider owned 27,364 shares of the company's stock, valued at approximately $5,735,220.76. This represents a 16.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Matthew W. Cooper sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $223.40, for a total value of $446,800.00. Following the completion of the transaction, the general counsel directly owned 100,486 shares in the company, valued at $22,448,572.40. The trade was a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 21,298 shares of company stock valued at $4,679,844. 1.26% of the stock is owned by company insiders.

Capital One Financial Trading Down 0.3%

COF stock opened at $223.59 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.02. The company has a fifty day moving average price of $217.89 and a two-hundred day moving average price of $196.49. Capital One Financial Corporation has a one year low of $137.64 and a one year high of $232.45. The stock has a market cap of $142.99 billion, a price-to-earnings ratio of 114.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17.

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

Capital One Financial Announces Dividend

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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. Capital One Financial's payout ratio is 123.08%.

Analysts Set New Price Targets

Several research firms have weighed in on COF. JPMorgan Chase & Co. lifted their target price on Capital One Financial from $245.00 to $248.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. TD Cowen upgraded Capital One Financial from a "hold" rating to a "buy" rating and lifted their target price for the stock from $184.00 to $258.00 in a report on Tuesday, July 8th. Redburn Atlantic upgraded Capital One Financial to a "strong-buy" rating in a report on Friday, August 1st. Barclays reaffirmed an "overweight" rating and issued a $253.00 target price (up previously from $212.00) on shares of Capital One Financial in a research report on Monday, June 23rd. Finally, Truist Financial lifted their target price on Capital One Financial from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Capital One Financial presently has an average rating of "Moderate Buy" and an average price target of $239.44.

About Capital One Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.