Capital One Financial Corporation (NYSE:COF) Downgraded by Zacks Investment Research

Capital One Financial Corporation (NYSE:COF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, July 11th.

According to Zacks, “Capital One shares have underperformed the Zacks categorized Consumer Loan industry in the last six months. Continuously increasing expenses are likely to hurt the company's profitability, going forward. While the company should continue to benefit from strength in its credit card and online banking businesses as well as an improving interest rate scenario and strengthening economy, deteriorating credit quality remains a major near-term concern. In fact, asset quality is expected to continue to remain under pressure due to losses in the auto portfolio and U.S. card business.”

Other equities analysts have also recently issued reports about the stock. Wedbush cut shares of Capital One Financial Corporation from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $94.00 to $80.00 in a research report on Wednesday, July 5th. Instinet reiterated a “buy” rating and set a $101.00 price objective (down from $105.00) on shares of Capital One Financial Corporation in a research report on Saturday, April 29th. Deutsche Bank AG upgraded shares of Capital One Financial Corporation from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Monday, May 1st. Credit Suisse Group reiterated a “hold” rating and set a $99.00 price objective on shares of Capital One Financial Corporation in a research report on Friday, April 7th. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $85.00 price objective (down from $88.00) on shares of Capital One Financial Corporation in a research report on Sunday, May 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $92.76.

Shares of Capital One Financial Corporation (NYSE COF) opened at 82.80 on Tuesday. The firm has a market cap of $40.08 billion, a PE ratio of 12.07 and a beta of 1.20. Capital One Financial Corporation has a 12-month low of $67.97 and a 12-month high of $96.92. The stock’s 50 day moving average price is $83.49 and its 200 day moving average price is $84.60.

Capital One Financial Corporation (NYSE:COF) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.06. The company had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Capital One Financial Corporation had a return on equity of 7.92% and a net margin of 13.32%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 earnings per share. On average, equities research analysts predict that Capital One Financial Corporation will post $7.54 EPS for the current fiscal year.

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

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In related news, CEO Richard D. Fairbank sold 367,419 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $87.02, for a total value of $31,972,801.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.73% of the company’s stock.

A number of hedge funds have recently modified their holdings of COF. Guardian Life Insurance Co. of America boosted its stake in shares of Capital One Financial Corporation by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,860 shares of the financial services provider’s stock valued at $161,000 after buying an additional 11 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Capital One Financial Corporation by 0.9% in the second quarter. Savant Capital LLC now owns 3,213 shares of the financial services provider’s stock valued at $265,000 after buying an additional 28 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Capital One Financial Corporation by 0.3% in the second quarter. ARGA Investment Management LP now owns 11,002 shares of the financial services provider’s stock valued at $909,000 after buying an additional 32 shares in the last quarter. Trust Co. of Virginia VA boosted its stake in shares of Capital One Financial Corporation by 0.8% in the first quarter. Trust Co. of Virginia VA now owns 4,578 shares of the financial services provider’s stock valued at $397,000 after buying an additional 35 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Capital One Financial Corporation by 2.5% in the first quarter. Quadrant Capital Group LLC now owns 1,472 shares of the financial services provider’s stock valued at $121,000 after buying an additional 36 shares in the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

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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