Bailard Inc. trimmed its stake in Capital One Financial Corp. (NYSE:COF) by 36.2% in the fourth quarter, HoldingsChannel reports. The firm owned 4,713 shares of the financial services provider’s stock after selling 2,675 shares during the quarter. Bailard Inc.’s holdings in Capital One Financial were worth $469,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of COF. Cerebellum GP LLC bought a new position in Capital One Financial in the fourth quarter valued at approximately $127,000. SeaCrest Wealth Management LLC bought a new position in Capital One Financial in the fourth quarter valued at approximately $141,000. Camelot Portfolios LLC bought a new position in Capital One Financial in the third quarter valued at approximately $201,000. Gould Asset Management LLC CA bought a new position in Capital One Financial in the third quarter valued at approximately $203,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in shares of Capital One Financial by 48.4% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 2,451 shares of the financial services provider’s stock worth $207,000 after acquiring an additional 799 shares during the period. Hedge funds and other institutional investors own 89.16% of the company’s stock.
Several brokerages have recently commented on COF. BMO Capital Markets lifted their target price on Capital One Financial from $116.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Credit Suisse Group reiterated a “hold” rating and set a $92.00 target price on shares of Capital One Financial in a research note on Tuesday, December 19th. Royal Bank of Canada reiterated a “buy” rating and set a $110.00 target price on shares of Capital One Financial in a research note on Wednesday, January 24th. Piper Jaffray Companies reiterated a “sell” rating and set a $81.00 target price on shares of Capital One Financial in a research note on Friday, October 27th. Finally, Bank of America lifted their target price on Capital One Financial from $89.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Capital One Financial has an average rating of “Hold” and a consensus target price of $105.95.
Capital One Financial (NYSE:COF) last released its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $1.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.23). The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7.12 billion. Capital One Financial had a return on equity of 8.36% and a net margin of 6.89%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 earnings per share. analysts predict that Capital One Financial Corp. will post 9.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 9th. This represents a $1.60 annualized dividend and a yield of 1.61%. Capital One Financial’s payout ratio is currently 42.44%.
Capital One Financial announced that its board has authorized a stock buyback program on Tuesday, December 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, insider Yajnik Sanjiv sold 156,278 shares of Capital One Financial stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $100.00, for a total transaction of $15,627,800.00. Following the completion of the sale, the insider now directly owns 199,216 shares of the company’s stock, valued at approximately $19,921,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard D. Fairbank sold 485,202 shares of Capital One Financial stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $105.09, for a total value of $50,989,878.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 954,948 shares of company stock valued at $97,433,019. 1.73% of the stock is currently owned by insiders.
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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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