TD Waterhouse Canada Inc. Trims Holdings in Capital One Financial Corporation $COF

Key Points

• TD Waterhouse Canada cut its Capital One Financial position by 36.3% in the second quarter, selling 9,529 shares and retaining 16,691 shares valued at approximately $3.42 million. Institutional investors collectively own 89.84% of the company.
• Analysts remain broadly bullish, with 21 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $258.91 versus the reported share price of $219.43.
• Capital One reported strong quarterly results, generating $5.81 in earnings per share versus the $4.79 consensus estimate and $15.83 billion in revenue, up 26.9% year over year. The company also paid a quarterly dividend of $0.80 per share, representing a 1.5% annualized yield.

TD Waterhouse Canada Inc. reduced its position in shares of Capital One Financial Corporation (NYSE:COF) by 36.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,691 shares of the financial services provider's stock after selling 9,529 shares during the period. TD Waterhouse Canada Inc.'s holdings in Capital One Financial were worth $3,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COF. BlackRock Inc. boosted its position in Capital One Financial by 0.5% during the second quarter. BlackRock Inc. now owns 51,054,869 shares of the financial services provider's stock worth $10,242,628,000 after acquiring an additional 236,643 shares during the last quarter. Franklin Resources Inc. raised its holdings in Capital One Financial by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 12,476,462 shares of the financial services provider's stock valued at $3,023,795,000 after acquiring an additional 638,158 shares during the last quarter. Morgan Stanley raised its holdings in Capital One Financial by 3.9% in the 4th quarter. Morgan Stanley now owns 8,677,981 shares of the financial services provider's stock valued at $2,103,196,000 after acquiring an additional 323,350 shares during the last quarter. Norges Bank purchased a new position in shares of Capital One Financial during the 4th quarter worth $2,089,803,000. Finally, Viking Global Investors LP lifted its stake in shares of Capital One Financial by 30.3% during the 3rd quarter. Viking Global Investors LP now owns 7,388,506 shares of the financial services provider's stock worth $1,570,649,000 after purchasing an additional 1,717,148 shares during the period. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Lia Dean sold 2,193 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $225.52, for a total transaction of $494,565.36. Following the completion of the sale, the insider owned 63,261 shares of the company's stock, valued at approximately $14,266,620.72. This represents a 3.35% 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 Golden sold 3,487 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $211.00, for a total transaction 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. Over the last quarter, insiders sold 29,767 shares of company stock worth $6,366,998. Corporate insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays lowered their price objective on Capital One Financial from $242.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. TD Cowen reduced their target price on Capital One Financial from $260.00 to $253.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. BTIG Research raised their price target on Capital One Financial from $224.00 to $259.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Wolfe Research lifted their price target on Capital One Financial from $255.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Finally, Piper Sandler assumed coverage on shares of Capital One Financial in a research note on Monday, June 29th. They set an "overweight" rating and a $254.00 price objective for the company. Twenty-one analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $258.91.

Capital One Financial Stock Down 0.1%

Shares of NYSE COF opened at $219.43 on Tuesday. The stock has a market capitalization of $134.62 billion, a PE ratio of 13.58, a P/E/G ratio of 0.81 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. The firm has a fifty day moving average of $212.15 and a 200-day moving average of $198.09. Capital One Financial Corporation has a 52-week low of $174.24 and a 52-week high of $259.64.

Capital One Financial (NYSE:COF - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $4.79 by $1.02. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%.The business had revenue of $15.83 billion for the quarter, compared to analyst estimates of $15.76 billion. During the same period last year, the company posted $5.48 EPS. The business's quarterly revenue was up 26.9% on a year-over-year basis. On average, analysts anticipate that Capital One Financial Corporation will post 20.29 EPS for the current year.

Capital One Financial Announces Dividend

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

Capital One Financial Company 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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