Saudi Central Bank Grows Stake in Capital One Financial Corporation $COF

Saudi Central Bank raised its position in shares of Capital One Financial Corporation (NYSE:COF) by 78.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,875 shares of the financial services provider’s stock after purchasing an additional 18,409 shares during the period. Saudi Central Bank’s holdings in Capital One Financial were worth $8,401,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Evolution Wealth Management Inc. raised its holdings in shares of Capital One Financial by 529.4% in the fourth quarter. Evolution Wealth Management Inc. now owns 107 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 90 shares in the last quarter. Solstein Capital LLC bought a new position in Capital One Financial during the 2nd quarter worth about $26,000. VSM Wealth Advisory LLC purchased a new position in Capital One Financial during the 4th quarter valued at about $27,000. Cherry Tree Wealth Management LLC increased its position in Capital One Financial by 1,312.5% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 113 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 105 shares during the period. Finally, Ballast Advisors LLC bought a new stake in shares of Capital One Financial in the 1st quarter valued at about $27,000. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on COF. Bank of America lowered their price target on shares of Capital One Financial from $234.00 to $231.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Piper Sandler started coverage on shares of Capital One Financial in a research note on Monday, June 29th. They issued an “overweight” rating and a $254.00 price objective for the company. Wall Street Zen lowered Capital One Financial from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. TD Cowen dropped their target price on Capital One Financial from $260.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft set a $245.00 price target on Capital One Financial in a research report on Thursday, August 20th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $258.91.

Insider Activity

In other Capital One Financial news, insider Lia Dean sold 2,193 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $225.52, for a total value of $494,565.36. Following the completion of the sale, the insider owned 63,261 shares of the company’s stock, valued at approximately $14,266,620.72. This trade represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Timothy Golden sold 3,487 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $211.00, for a total value of $735,757.00. Following the sale, the chief accounting officer owned 7,429 shares in the company, valued at $1,567,519. The trade was a 31.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,767 shares of company stock worth $6,366,998 over the last quarter. Company insiders own 0.78% of the company’s stock.

Capital One Financial Trading Down 0.5%

NYSE:COF opened at $219.43 on Friday. Capital One Financial Corporation has a 52 week low of $174.24 and a 52 week high of $259.64. The firm has a 50 day moving average of $211.80 and a 200 day moving average of $198.07. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $134.62 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.81 and a beta of 1.02.

Capital One Financial (NYSE:COF) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, beating the consensus estimate of $4.79 by $1.02. Capital One Financial had a net margin of 13.37% and a return on equity of 11.28%. The company had revenue of $15.83 billion during the quarter, compared to the consensus estimate of $15.76 billion. During the same period last year, the firm earned $5.48 earnings per share. Capital One Financial’s revenue was up 26.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Capital One Financial Corporation will post 20.29 earnings per share for the current fiscal year.

Capital One Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. Capital One Financial’s dividend payout ratio (DPR) is presently 19.80%.

About Capital One Financial

Capital One Financial Corporation (NYSE: COF) is a diversified bank holding company headquartered in McLean, Virginia. The company’s core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.