Wells Fargo & Company Begins Coverage on Capital One Financial Corporation (COF)

Wells Fargo & Company initiated coverage on shares of Capital One Financial Corporation (NYSE:COF) in a report issued on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $96.00 target price on the financial services provider’s stock.

Other analysts have also issued reports about the company. Instinet reissued a buy rating and set a $96.00 target price (down from $101.00) on shares of Capital One Financial Corporation in a report on Wednesday, July 12th. BMO Capital Markets reissued a buy rating and set a $103.00 target price on shares of Capital One Financial Corporation in a report on Tuesday, June 20th. Keefe, Bruyette & Woods reissued a buy rating and set a $106.00 target price on shares of Capital One Financial Corporation in a report on Friday, June 16th. Buckingham Research started coverage on Capital One Financial Corporation in a report on Monday, October 2nd. They set a buy rating and a $99.00 target price on the stock. Finally, Morgan Stanley lowered Capital One Financial Corporation from an overweight rating to an equal weight rating and reduced their target price for the stock from $97.00 to $83.00 in a report on Friday, September 8th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Capital One Financial Corporation has an average rating of Hold and an average price target of $93.36.

Shares of Capital One Financial Corporation (NYSE:COF) opened at 84.59 on Tuesday. The firm has a market cap of $40.94 billion, a P/E ratio of 12.33 and a beta of 1.23. The stock has a 50 day moving average of $82.25 and a 200 day moving average of $82.26. Capital One Financial Corporation has a 52 week low of $71.23 and a 52 week high of $96.92.

Capital One Financial Corporation (NYSE:COF) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.06. The firm 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.76 EPS. Analysts anticipate that Capital One Financial Corporation will post $7.50 earnings per share for the current fiscal year.

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Capital One Financial Corporation announced that its board has authorized a stock repurchase 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 purchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, CEO Richard D. Fairbank sold 367,419 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $87.02, for a total value of $31,972,801.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.73% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. First National Bank of Mount Dora Trust Investment Services boosted its stake in Capital One Financial Corporation by 3.6% in the third quarter. First National Bank of Mount Dora Trust Investment Services now owns 68,165 shares of the financial services provider’s stock valued at $5,770,000 after buying an additional 2,365 shares in the last quarter. Fulton Bank N.A. boosted its stake in Capital One Financial Corporation by 14.7% in the third quarter. Fulton Bank N.A. now owns 6,879 shares of the financial services provider’s stock valued at $583,000 after buying an additional 879 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Capital One Financial Corporation by 201.8% in the second quarter. Lord Abbett & CO. LLC now owns 150,000 shares of the financial services provider’s stock valued at $12,393,000 after buying an additional 100,300 shares in the last quarter. Sentry Investment Management LLC boosted its stake in Capital One Financial Corporation by 17.6% in the second quarter. Sentry Investment Management LLC now owns 38,135 shares of the financial services provider’s stock valued at $3,151,000 after buying an additional 5,715 shares in the last quarter. Finally, Oak Associates Ltd. OH boosted its stake in Capital One Financial Corporation by 1.8% in the second quarter. Oak Associates Ltd. OH now owns 94,290 shares of the financial services provider’s stock valued at $7,790,000 after buying an additional 1,700 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Capital One Financial Corporation (NYSE:COF)

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