Norges Bank Takes $590.28 Million Position in Capital One Financial Co. (NYSE:COF)

Norges Bank purchased a new stake in shares of Capital One Financial Co. (NYSE:COF) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,310,224 shares of the financial services provider’s stock, valued at approximately $590,279,000. Norges Bank owned approximately 0.87% of Capital One Financial at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Capital One Financial by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 31,744,818 shares of the financial services provider’s stock valued at $5,660,736,000 after buying an additional 234,863 shares during the period. State Street Corp raised its holdings in shares of Capital One Financial by 0.5% during the third quarter. State Street Corp now owns 16,506,861 shares of the financial services provider’s stock worth $2,471,572,000 after acquiring an additional 74,784 shares in the last quarter. Franklin Resources Inc. boosted its position in Capital One Financial by 2.8% during the third quarter. Franklin Resources Inc. now owns 10,387,265 shares of the financial services provider’s stock valued at $1,649,488,000 after purchasing an additional 280,462 shares during the last quarter. Geode Capital Management LLC grew its stake in Capital One Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 8,020,160 shares of the financial services provider’s stock valued at $1,198,664,000 after purchasing an additional 159,616 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Capital One Financial by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,010,648 shares of the financial services provider’s stock worth $715,179,000 after purchasing an additional 304,833 shares during the last quarter. 89.84% of the stock is owned by institutional investors and hedge funds.

Capital One Financial Price Performance

NYSE:COF opened at $173.32 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.98 and a quick ratio of 0.98. Capital One Financial Co. has a one year low of $128.23 and a one year high of $210.67. The company has a fifty day moving average price of $190.70 and a 200 day moving average price of $177.36. The stock has a market cap of $66.09 billion, a P/E ratio of 14.95, a PEG ratio of 1.19 and a beta of 1.47.

Capital One Financial (NYSE:COF) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.31. Capital One Financial had a net margin of 9.46% and a return on equity of 9.45%. The business had revenue of $10.19 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the business earned $2.81 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Capital One Financial Co. will post 15.65 earnings per share for the current year.

Capital One Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.38%. Capital One Financial’s payout ratio is 20.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BTIG Research raised Capital One Financial from a “neutral” rating to a “buy” rating and set a $208.00 price target for the company in a research note on Tuesday. Bank of America upgraded shares of Capital One Financial from a “neutral” rating to a “buy” rating and increased their price target for the stock from $207.00 to $235.00 in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Capital One Financial from $185.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Robert W. Baird raised shares of Capital One Financial from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $190.00 to $200.00 in a research report on Tuesday, March 11th. Finally, Evercore ISI raised Capital One Financial from an “in-line” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $206.63.

About Capital One Financial

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.