Wedbush Reiterates Sell Rating for Capital One Financial Corporation (COF)

Wedbush restated their sell rating on shares of Capital One Financial Corporation (NYSE:COF) in a research report sent to investors on Saturday, July 22nd.

Other equities analysts have also issued research reports about the company. CIBC raised Capital One Financial Corporation from an underperform rating to a market perform rating in a research note on Friday, July 21st. Barclays PLC reaffirmed an overweight rating and issued a $105.00 price objective on shares of Capital One Financial Corporation in a research note on Saturday, July 22nd. Rafferty Capital Markets lowered Capital One Financial Corporation from a buy rating to a hold rating in a research note on Wednesday, April 26th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $106.00 price objective on shares of Capital One Financial Corporation in a research note on Wednesday, April 5th. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of Capital One Financial Corporation in a research note on Tuesday, April 4th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $92.76.

Shares of Capital One Financial Corporation (NYSE:COF) traded down 0.56% during mid-day trading on Friday, hitting $81.53. The stock had a trading volume of 2,415,346 shares. The company has a market cap of $39.46 billion, a PE ratio of 11.89 and a beta of 1.20. The stock’s 50-day moving average is $83.77 and its 200 day moving average is $84.40. Capital One Financial Corporation has a 12 month low of $68.08 and a 12 month high of $96.92.

Capital One Financial Corporation (NYSE:COF) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.06. The business had revenue of $6.70 billion during 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 business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 earnings per share. On average, equities research analysts forecast that Capital One Financial Corporation will post $7.54 earnings per share for the current fiscal year.

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Capital One Financial Corporation announced that its Board of Directors has authorized a stock repurchase program 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 repurchase up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 7th were issued a $0.40 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. Capital One Financial Corporation’s payout ratio is 23.43%.

In other news, CEO Richard D. Fairbank sold 367,419 shares of the stock in a transaction that occurred 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 filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.73% of the company’s stock.

Large investors have recently modified their holdings of the company. Capital World Investors increased its stake in shares of Capital One Financial Corporation by 2.3% in 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 buying an additional 849,047 shares during the last quarter. Vanguard Group Inc. increased its position in Capital One Financial Corporation by 1.1% in 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 buying an additional 335,574 shares during the last quarter. BlackRock Inc. increased its position 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 during the last quarter. State Street Corp increased its position 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 during the last quarter. Finally, Franklin Resources Inc. increased its position in Capital One Financial Corporation by 2.4% in 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 buying an additional 322,243 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

About Capital One Financial Corporation

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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