Capital One Financial (NYSE:COF) Reaches New 1-Year High on Better-Than-Expected Earnings

Shares of Capital One Financial Co. (NYSE:COF) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $198.76 and last traded at $196.59, with a volume of 727318 shares changing hands. The stock had previously closed at $193.21.

The financial services provider reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.78 by $0.31. Capital One Financial had a net margin of 8.80% and a return on equity of 9.00%. The company had revenue of $10.19 billion during the quarter, compared to analysts’ expectations of $10,220,675.12 billion. During the same quarter in the prior year, the company posted $2.81 EPS. The business’s revenue was up 7.2% on a year-over-year basis.

Capital One Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, November 14th. Capital One Financial’s dividend payout ratio is 22.66%.

Analyst Ratings Changes

Several equities research analysts have weighed in on COF shares. UBS Group upgraded shares of Capital One Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $168.00 to $235.00 in a research report on Monday, January 13th. Truist Financial assumed coverage on Capital One Financial in a research note on Tuesday, January 7th. They issued a “buy” rating and a $229.00 target price for the company. HSBC upgraded shares of Capital One Financial from a “reduce” rating to a “hold” rating and set a $176.00 target price on the stock in a report on Tuesday, January 14th. Royal Bank of Canada lifted their price objective on shares of Capital One Financial from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Bank of America downgraded shares of Capital One Financial from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $203.00 to $200.00 in a report on Monday, December 9th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $190.47.

Insider Activity

In other Capital One Financial news, insider Kara West sold 721 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $184.73, for a total transaction of $133,190.33. Following the transaction, the insider now directly owns 12,929 shares in the company, valued at approximately $2,388,374.17. This represents a 5.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Daniel Mouadeb sold 1,994 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $162.37, for a total value of $323,765.78. Following the transaction, the insider now owns 19,776 shares in the company, valued at $3,211,029.12. The trade was a 9.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,256 shares of company stock valued at $2,462,487 over the last quarter. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Capital One Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. increased its position in shares of Capital One Financial by 4.6% during the 2nd quarter. Pacer Advisors Inc. now owns 27,325 shares of the financial services provider’s stock valued at $3,783,000 after purchasing an additional 1,212 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Capital One Financial by 12.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 19,236 shares of the financial services provider’s stock worth $2,663,000 after purchasing an additional 2,205 shares during the period. Gabelli Funds LLC boosted its position in shares of Capital One Financial by 1.0% during the 2nd quarter. Gabelli Funds LLC now owns 15,450 shares of the financial services provider’s stock valued at $2,139,000 after acquiring an additional 150 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Capital One Financial by 11.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 4,283 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 430 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Capital One Financial by 10.7% during the 2nd quarter. Bank of Montreal Can now owns 558,171 shares of the financial services provider’s stock valued at $77,290,000 after buying an additional 53,837 shares in the last quarter. 89.84% of the stock is owned by hedge funds and other institutional investors.

Capital One Financial Trading Up 4.1 %

The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $183.98 and a two-hundred day moving average of $161.38. The company has a market capitalization of $76.71 billion, a PE ratio of 19.00, a PEG ratio of 1.23 and a beta of 1.46.

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.