Capital One Financial (COF) Stock Rating Upgraded by Zacks Investment Research
Capital One Financial (NYSE:COF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $111.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.28% from the stock’s previous close.
According to Zacks, “Capital One’s shares have outperformed the industry in the last six months. The company surpassed the Zacks Consensus Estimate for earnings only in two of the trailing four quarters. A solid liquidity position and strength in the credit card and online banking businesses position it well for long term growth. The acquisition of Cabela's credit card portfolio further supports the company's prospects. Further, its efficient capital deployment activities should continue to boost investor confidence. However, mounting operating expenses and deteriorating asset quality will likely to keep the company’s bottom line under pressure in the near term.”
Other research analysts have also issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Capital One Financial from $116.00 to $118.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Robert W. Baird reaffirmed a “hold” rating and set a $84.00 price objective on shares of Capital One Financial in a research report on Tuesday, September 5th. Credit Suisse Group reaffirmed a “hold” rating and set a $92.00 price objective on shares of Capital One Financial in a research report on Tuesday, December 19th. Wells Fargo & Co assumed coverage on shares of Capital One Financial in a research report on Tuesday, October 10th. They set an “outperform” rating and a $96.00 price objective for the company. Finally, Piper Jaffray Companies reaffirmed a “sell” rating and set a $81.00 price objective on shares of Capital One Financial in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $98.62.
Capital One Financial (NYSE:COF) opened at $99.75 on Tuesday. The company has a market cap of $48,320.00, a PE ratio of 13.99, a PEG ratio of 1.50 and a beta of 1.28. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 1.17. Capital One Financial has a 52-week low of $76.05 and a 52-week high of $101.43.
Capital One Financial (NYSE:COF) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $2.42 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.27. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.81 billion. Capital One Financial had a net margin of 13.34% and a return on equity of 8.25%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. sell-side analysts forecast that Capital One Financial will post 7.97 EPS for the current fiscal year.
Capital One Financial declared that its board has initiated a stock buyback program on Tuesday, December 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Ann F. Hackett sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.00, for a total transaction of $686,000.00. Following the completion of the sale, the director now owns 65,011 shares of the company’s stock, valued at $6,371,078. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann F. Hackett sold 11,055 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $91.18, for a total transaction of $1,007,994.90. Following the sale, the director now directly owns 69,066 shares of the company’s stock, valued at approximately $6,297,437.88. The disclosure for this sale can be found here. Insiders sold 221,914 shares of company stock valued at $20,953,562 in the last three months. Company insiders own 1.73% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Capital One Financial by 2.3% during the second quarter. Capital World Investors now owns 38,396,005 shares of the financial services provider’s stock valued at $3,172,278,000 after purchasing an additional 849,047 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Capital One Financial by 1.1% during the second quarter. Vanguard Group Inc. now owns 31,789,748 shares of the financial services provider’s stock valued at $2,626,469,000 after purchasing an additional 335,574 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Capital One Financial by 2.4% during the second quarter. Franklin Resources Inc. now owns 13,739,126 shares of the financial services provider’s stock valued at $1,135,064,000 after purchasing an additional 322,243 shares during the last quarter. Davis Selected Advisers grew its stake in shares of Capital One Financial by 43.7% during the third quarter. Davis Selected Advisers now owns 11,581,237 shares of the financial services provider’s stock valued at $980,149,000 after purchasing an additional 3,519,332 shares during the last quarter. Finally, Harris Associates L P grew its stake in shares of Capital One Financial by 7.9% during the second quarter. Harris Associates L P now owns 8,063,205 shares of the financial services provider’s stock valued at $666,182,000 after purchasing an additional 588,664 shares during the last quarter. 88.33% of the stock is owned by institutional investors.
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About Capital One Financial
Capital One Financial Corporation is a diversified financial services holding company. The Company, along with its subsidiaries, offers a range of financial products and services to consumers, small businesses and commercial clients through branches, the Internet and other distribution channels. The Company’s segments include Credit Card, Consumer Banking, Commercial Banking and Other.
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