Westpac Banking Corp Lowers Stake in Capital One Financial Corporation $COF

Key Points

• Westpac Banking Corp cut its stake in Capital One Financial by 82.7% in the fourth quarter, leaving it with 6,067 shares valued at about $1.47 million.
• Capital One reported Q1 earnings of $4.42 per share, missing analyst expectations of $5.08, while revenue of $15.23 billion also came in below forecasts. Despite the miss, revenue was still up 52.3% from a year earlier.
• Insiders have recently sold shares, including Lia Dean and Celia Karam, and analysts have trimmed price targets across several firms. The stock was last down 3.3% and opened at $177.75, near its 1-year low.

Westpac Banking Corp reduced its stake in shares of Capital One Financial Corporation (NYSE:COF) by 82.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,067 shares of the financial services provider's stock after selling 28,932 shares during the quarter. Westpac Banking Corp's holdings in Capital One Financial were worth $1,470,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new stake in shares of Capital One Financial during the fourth quarter valued at $27,000. Cherry Tree Wealth Management LLC boosted its stake in shares of Capital One Financial by 1,312.5% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 113 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 105 shares during the period. Olistico Wealth LLC purchased a new stake in shares of Capital One Financial during the fourth quarter valued at $30,000. Rakuten Securities Inc. boosted its stake in shares of Capital One Financial by 550.0% during the fourth quarter. Rakuten Securities Inc. now owns 130 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 110 shares during the period. Finally, Strive Asset Management LLC purchased a new stake in shares of Capital One Financial during the third quarter valued at $28,000. 89.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Capital One Financial

In other news, insider Lia Dean sold 1,692 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $185.61, for a total transaction of $314,052.12. Following the transaction, the insider directly owned 65,454 shares of the company's stock, valued at approximately $12,148,916.94. This represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Celia Karam sold 1,749 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $192.58, for a total transaction of $336,822.42. Following the transaction, the insider owned 61,579 shares in the company, valued at approximately $11,858,883.82. This trade represents a 2.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 8,040 shares of company stock valued at $1,498,615. Corporate insiders own 0.78% of the company's stock.

Capital One Financial Stock Down 3.3%

NYSE:COF opened at $177.75 on Thursday. Capital One Financial Corporation has a 1-year low of $174.98 and a 1-year high of $259.64. The company has a 50-day moving average of $189.14 and a 200 day moving average of $208.49. The firm has a market cap of $110.61 billion, a PE ratio of 62.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 1.03.

Capital One Financial (NYSE:COF - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $4.42 earnings per share for the quarter, missing analysts' consensus estimates of $5.08 by ($0.66). The business had revenue of $15.23 billion during the quarter, compared to analysts' expectations of $15.68 billion. Capital One Financial had a return on equity of 10.59% and a net margin of 4.29%.The firm's revenue was up 52.3% compared to the same quarter last year. During the same period last year, the company earned $4.06 earnings per share. As a group, research analysts anticipate that Capital One Financial Corporation will post 19.13 EPS for the current fiscal year.

Capital One Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 19th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.8%. Capital One Financial's dividend payout ratio is presently 112.28%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Capital One Financial from $300.00 to $273.00 and set an "overweight" rating for the company in a research note on Thursday, April 16th. Royal Bank Of Canada lowered their target price on shares of Capital One Financial from $275.00 to $235.00 and set a "sector perform" rating for the company in a research note on Friday, April 10th. Evercore lowered their price objective on shares of Capital One Financial from $265.00 to $222.00 and set an "outperform" rating for the company in a research note on Monday, April 6th. Truist Financial lowered their price objective on shares of Capital One Financial from $275.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. Finally, Rothschild & Co Redburn lowered their price objective on shares of Capital One Financial from $290.00 to $275.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $258.75.

About Capital One Financial

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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