Main Street Research LLC Takes Position in Capital One Financial Corporation $COF

Main Street Research LLC acquired a new stake in Capital One Financial Corporation (NYSE:COF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,016 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other hedge funds also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC lifted its position in shares of Capital One Financial by 588,668.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 117,447,497 shares of the financial services provider’s stock valued at $24,988,129,000 after buying an additional 117,427,549 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Capital One Financial by 1.6% in the first quarter. Vanguard Group Inc. now owns 32,250,923 shares of the financial services provider’s stock valued at $5,782,590,000 after buying an additional 506,105 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Capital One Financial by 41.3% in the second quarter. Bank of New York Mellon Corp now owns 7,011,073 shares of the financial services provider’s stock valued at $1,491,676,000 after buying an additional 2,050,010 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Capital One Financial by 18.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,766,573 shares of the financial services provider’s stock worth $854,647,000 after purchasing an additional 734,939 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Capital One Financial by 45.1% during the 1st 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 last quarter. 89.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Matthew W. Cooper sold 2,000 shares of Capital One Financial stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $211.99, for a total value of $423,980.00. Following the transaction, the general counsel owned 98,486 shares in the company, valued at approximately $20,878,047.14. This trade represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard D. Fairbank sold 103,486 shares of Capital One Financial stock in a transaction on Monday, October 27th. The shares were sold at an average price of $225.68, for a total value of $23,354,720.48. Following the completion of the transaction, the chief executive officer owned 4,051,228 shares in the company, valued at approximately $914,281,135.04. The trade was a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 111,155 shares of company stock worth $24,998,080. Insiders own 1.26% of the company’s stock.

Capital One Financial Price Performance

Capital One Financial stock opened at $220.57 on Wednesday. The stock’s fifty day moving average price is $219.75 and its two-hundred day moving average price is $208.93. Capital One Financial Corporation has a one year low of $143.22 and a one year high of $232.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $141.06 billion, a PE ratio of 93.07, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18.

Capital One Financial (NYSE:COF) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $5.95 EPS for the quarter, topping analysts’ consensus estimates of $4.25 by $1.70. Capital One Financial had a return on equity of 10.94% and a net margin of 2.24%.The firm had revenue of $15.36 billion for the quarter, compared to analyst estimates of $15.06 billion. During the same quarter last year, the company earned $4.51 EPS. The company’s revenue was up 53.4% on a year-over-year basis. As a group, research analysts expect that Capital One Financial Corporation will post 15.65 EPS for the current fiscal year.

Capital One Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, November 17th. This is a positive change from Capital One Financial’s previous quarterly dividend of $0.60. Capital One Financial’s dividend payout ratio is 101.27%.

Wall Street Analysts Forecast Growth

COF has been the subject of several research reports. TD Cowen lifted their price target on Capital One Financial from $258.00 to $261.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Evercore ISI lifted their price target on Capital One Financial from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Wells Fargo & Company lifted their price target on Capital One Financial from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Keefe, Bruyette & Woods lifted their price target on Capital One Financial from $248.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, July 23rd. Finally, Redburn Atlantic raised Capital One Financial to a “strong-buy” rating in a report on Friday, August 1st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.63.

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.