Zacks Investment Research Upgrades Capital One Financial Corporation (COF) to “Buy”

Zacks Investment Research upgraded shares of Capital One Financial Corporation (NYSE:COF) from a hold rating to a buy rating in a research report sent to investors on Friday. They currently have $102.00 target price on the financial services provider’s stock.

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. The company’s third quarter 2017 results were driven by higher revenues and easing margin pressure, while a rise in operating expenses and higher credit costs were undermining factors. A solid liquidity position and strength in the credit card and online banking businesses position Capital One well for long term growth. The acquisition of Cabela's credit card portfolio further supports the company's prospects. However, continuously increasing expenses and deteriorating asset quality are expected to continue hurting the company’s financials in the near-term.”

Several other analysts also recently issued reports on COF. Piper Jaffray Companies reiterated a sell rating and issued a $81.00 price target on shares of Capital One Financial Corporation in a report on Friday. Compass Point assumed coverage on Capital One Financial Corporation in a report on Thursday, August 10th. They issued a neutral rating and a $90.00 price target for the company. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Capital One Financial Corporation in a report on Tuesday, October 24th. Wells Fargo & Company increased their price target on Capital One Financial Corporation from $96.00 to $98.00 and gave the company an outperform rating in a report on Wednesday, October 25th. Finally, Bank of America Corporation increased their price target on Capital One Financial Corporation from $89.00 to $91.00 and gave the company a neutral rating in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $95.00.

Capital One Financial Corporation (NYSE COF) opened at 92.43 on Friday. Capital One Financial Corporation has a 1-year low of $71.91 and a 1-year high of $96.92. The firm has a market capitalization of $44.74 billion, a PE ratio of 13.48 and a beta of 1.23. The company’s 50-day moving average price is $85.30 and its 200 day moving average price is $82.68.

Capital One Financial Corporation (NYSE:COF) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.27. Capital One Financial Corporation had a return on equity of 8.25% and a net margin of 13.34%. The firm had revenue of $6.99 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the firm earned $2.03 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Capital One Financial Corporation will post $7.54 EPS for the current year.

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In other news, Director Ann F. Hackett sold 11,055 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $91.18, for a total transaction of $1,007,994.90. Following the transaction, the director now owns 69,066 shares of the company’s stock, valued at $6,297,437.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.73% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of COF. Cornerstone Wealth Management LLC lifted its holdings in Capital One Financial Corporation by 5.2% in the first quarter. Cornerstone Wealth Management LLC now owns 2,863 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 141 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Capital One Financial Corporation by 2.2% in the first quarter. Teacher Retirement System of Texas now owns 1,096,992 shares of the financial services provider’s stock worth $95,065,000 after acquiring an additional 23,648 shares during the last quarter. Banque Pictet & Cie SA lifted its holdings in Capital One Financial Corporation by 79.3% in the first quarter. Banque Pictet & Cie SA now owns 72,127 shares of the financial services provider’s stock worth $6,251,000 after acquiring an additional 31,890 shares during the last quarter. Royal Bank of Scotland Group PLC lifted its holdings in Capital One Financial Corporation by 7.7% in the first quarter. Royal Bank of Scotland Group PLC now owns 184,666 shares of the financial services provider’s stock worth $16,003,000 after acquiring an additional 13,153 shares during the last quarter. Finally, Global X Management Co. LLC lifted its holdings in Capital One Financial Corporation by 12.7% in the first quarter. Global X Management Co. LLC now owns 6,479 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 731 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

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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