Capital One Financial Corporation (NYSE:COF) Position Reduced by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC cut its stake in shares of Capital One Financial Corporation (NYSE:COF) by 12.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 14,633 shares of the financial services provider’s stock after selling 2,145 shares during the period. Patton Albertson Miller Group LLC’s holdings in Capital One Financial Corporation were worth $1,259,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Capital One Financial Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 31,454,174 shares of the financial services provider’s stock valued at $2,725,818,000 after buying an additional 963,101 shares in the last quarter. BlackRock Inc. boosted its stake in Capital One Financial Corporation by 3,066.1% in the first quarter. BlackRock Inc. now owns 31,294,690 shares of the financial services provider’s stock valued at $2,711,996,000 after buying an additional 30,306,250 shares in the last quarter. State Street Corp boosted its stake in Capital One Financial Corporation by 0.7% in the first quarter. State Street Corp now owns 21,864,090 shares of the financial services provider’s stock valued at $1,894,742,000 after buying an additional 157,141 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Capital One Financial Corporation by 10.4% in the first quarter. Bank of New York Mellon Corp now owns 6,411,412 shares of the financial services provider’s stock valued at $555,613,000 after buying an additional 605,038 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Capital One Financial Corporation by 2.5% in the first quarter. Geode Capital Management LLC now owns 4,684,142 shares of the financial services provider’s stock valued at $405,344,000 after buying an additional 113,839 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Capital One Financial Corporation (COF) opened at 83.06 on Friday. The company has a 50-day moving average of $83.42 and a 200 day moving average of $84.63. The firm has a market cap of $40.20 billion, a P/E ratio of 12.11 and a beta of 1.20. Capital One Financial Corporation has a 12-month low of $67.18 and a 12-month high of $96.92.

Capital One Financial Corporation (NYSE:COF) last announced its earnings results on Thursday, July 20th. The financial services provider reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.06. Capital One Financial Corporation had a return on equity of 7.92% and a net margin of 13.32%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company posted $1.76 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Capital One Financial Corporation will post $7.54 EPS for the current year.

Capital One Financial Corporation announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.85 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.93%. Capital One Financial Corporation’s dividend payout ratio (DPR) is presently 23.43%.

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Several analysts recently issued reports on COF shares. Zacks Investment Research raised shares of Capital One Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. UBS AG upgraded shares of Capital One Financial Corporation from an “underperform” rating to a “market perform” rating in a research note on Friday, July 21st. CIBC lowered their target price on shares of Capital One Financial Corporation from $84.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, April 26th. Evercore ISI reiterated an “underperform” rating and set a $94.00 target price on shares of Capital One Financial Corporation in a research note on Wednesday, April 19th. Finally, Instinet reiterated a “buy” rating and set a $96.00 target price (down previously from $101.00) on shares of Capital One Financial Corporation in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $92.76.

In other news, CEO Richard D. Fairbank sold 367,419 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $87.02, for a total value of $31,972,801.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.73% of the company’s stock.

Capital One Financial Corporation Company Profile

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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Institutional Ownership by Quarter for Capital One Financial Corporation (NYSE:COF)

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