Drive Wealth Management LLC Buys New Stake in Capital One Financial Corporation $COF

Drive Wealth Management LLC bought a new stake in Capital One Financial Corporation (NYSE:COF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,061 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also modified their holdings of COF. Moisand Fitzgerald Tamayo LLC raised its holdings in shares of Capital One Financial by 103.3% in the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 122 shares of the financial services provider’s stock valued at $26,000 after buying an additional 62 shares during the period. Olistico Wealth LLC grew its position in Capital One Financial by 439.1% in the 2nd quarter. Olistico Wealth LLC now owns 124 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 101 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in Capital One Financial during the second quarter worth about $27,000. Signature Resources Capital Management LLC acquired a new stake in shares of Capital One Financial during the second quarter worth about $28,000. Finally, WPG Advisers LLC acquired a new stake in shares of Capital One Financial during the first quarter worth about $25,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Capital One Financial Price Performance

Capital One Financial stock opened at $214.98 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $219.15 and a 200-day simple moving average of $204.10. The stock has a market cap of $137.48 billion, a P/E ratio of 110.25, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. Capital One Financial Corporation has a 12-month low of $143.22 and a 12-month high of $232.45.

Capital One Financial (NYSE:COF) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $5.48 EPS for the quarter, beating the consensus estimate of $1.93 by $3.55. The business had revenue of $12.49 billion during the quarter, compared to analysts’ expectations of $12.72 billion. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period last year, the company earned $3.14 EPS. Equities analysts expect that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. Capital One Financial’s dividend payout ratio (DPR) is 123.08%.

Insiders Place Their Bets

In other news, insider Robert M. Alexander sold 10,114 shares of the business’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $227.86, for a total transaction of $2,304,576.04. Following the completion of the sale, the insider owned 68,707 shares in the company, valued at approximately $15,655,577.02. The trade was a 12.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Zamsky sold 5,515 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $209.59, for a total transaction of $1,155,888.85. Following the completion of the transaction, the insider owned 27,364 shares of the company’s stock, valued at approximately $5,735,220.76. The trade was a 16.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,298 shares of company stock worth $5,103,824 in the last three months. 1.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on COF shares. Truist Financial lifted their price objective on shares of Capital One Financial from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, September 12th. Evercore ISI raised their price target on shares of Capital One Financial from $240.00 to $255.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Morgan Stanley boosted their price target on shares of Capital One Financial from $261.00 to $267.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Wells Fargo & Company increased their price objective on Capital One Financial from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Finally, HSBC set a $218.00 target price on Capital One Financial and gave the company a “hold” rating in a report on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Capital One Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.78.

Capital One Financial Company 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.