Scotia Capital Inc. Raises Position in Capital One Financial Corporation (NYSE:COF)

Scotia Capital Inc. raised its holdings in shares of Capital One Financial Corporation (NYSE:COF) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,926 shares of the financial services provider’s stock after buying an additional 414 shares during the quarter. Scotia Capital Inc.’s holdings in Capital One Financial were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lone Pine Capital LLC bought a new position in shares of Capital One Financial in the fourth quarter worth approximately $577,012,000. Diamond Hill Capital Management Inc. bought a new stake in Capital One Financial during the first quarter valued at approximately $381,848,000. Meritage Group LP purchased a new position in Capital One Financial in the 4th quarter worth approximately $227,662,000. Marshall Wace LLP increased its holdings in shares of Capital One Financial by 376.1% in the 4th quarter. Marshall Wace LLP now owns 1,238,883 shares of the financial services provider’s stock worth $220,918,000 after buying an additional 978,670 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Capital One Financial by 23.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,961,063 shares of the financial services provider’s stock worth $889,519,000 after buying an additional 950,415 shares during the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Capital One Financial Stock Up 0.4%

Shares of NYSE COF opened at $212.83 on Thursday. The firm’s fifty day moving average is $208.27 and its 200 day moving average is $193.06. Capital One Financial Corporation has a 52 week low of $131.55 and a 52 week high of $232.45. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. The company has a market cap of $81.54 billion, a price-to-earnings ratio of 109.14, a PEG ratio of 0.83 and a beta of 1.16.

Capital One Financial (NYSE:COF) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $3.55. The firm had revenue of $12.49 billion during the quarter, compared to analysts’ expectations of $12.72 billion. Capital One Financial’s revenue was up 31.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.14 EPS. On average, equities research analysts expect that Capital One Financial Corporation will post 15.65 earnings per share for the current year.

Capital One Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.40 annualized dividend and a yield of 1.1%. Capital One Financial’s dividend payout ratio (DPR) is 123.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COF shares. Barclays reaffirmed an “overweight” rating and set a $253.00 price objective (up from $212.00) on shares of Capital One Financial in a report on Monday, June 23rd. Wells Fargo & Company lifted their price target on Capital One Financial from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on Capital One Financial from $245.00 to $248.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Bank of America raised their price objective on Capital One Financial from $223.00 to $233.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Finally, Wall Street Zen upgraded Capital One Financial from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Capital One Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.81.

Insiders Place Their Bets

In other Capital One Financial news, insider Robert M. Alexander sold 10,114 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $227.86, for a total transaction of $2,304,576.04. Following the transaction, the insider directly owned 68,707 shares of the company’s stock, valued at approximately $15,655,577.02. The trade was a 12.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Zamsky sold 5,515 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $209.59, for a total transaction of $1,155,888.85. Following the completion of the sale, the insider directly owned 27,364 shares of the company’s stock, valued at approximately $5,735,220.76. This represents a 16.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,847 shares of company stock worth $5,696,173. 1.26% of the stock is currently owned by company insiders.

Capital One Financial Company Profile

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.