Geode Capital Management LLC Acquires 5,474,328 Shares of Capital One Financial Corporation $COF

Geode Capital Management LLC grew its holdings in Capital One Financial Corporation (NYSE:COF) by 64.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,008,841 shares of the financial services provider’s stock after purchasing an additional 5,474,328 shares during the period. Geode Capital Management LLC’s holdings in Capital One Financial were worth $2,970,628,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Earned Wealth Advisors LLC bought a new position in Capital One Financial in the 2nd quarter worth about $254,000. Plancorp LLC bought a new position in shares of Capital One Financial in the second quarter worth approximately $272,000. Private Advisor Group LLC raised its stake in Capital One Financial by 15.3% in the first quarter. Private Advisor Group LLC now owns 9,904 shares of the financial services provider’s stock valued at $1,776,000 after purchasing an additional 1,312 shares in the last quarter. Smith Chas P & Associates PA Cpas lifted its position in Capital One Financial by 1,490.0% during the second quarter. Smith Chas P & Associates PA Cpas now owns 43,486 shares of the financial services provider’s stock valued at $9,252,000 after purchasing an additional 40,751 shares during the last quarter. Finally, Callodine Capital Management LP grew its stake in Capital One Financial by 200.0% in the 1st quarter. Callodine Capital Management LP now owns 150,000 shares of the financial services provider’s stock worth $26,895,000 after buying an additional 100,000 shares in the last quarter. 89.84% of the stock is currently owned by hedge funds and other institutional investors.

Capital One Financial Stock Performance

NYSE:COF opened at $220.66 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.03. Capital One Financial Corporation has a fifty-two week low of $143.22 and a fifty-two week high of $232.45. The business has a 50 day moving average price of $219.08 and a 200-day moving average price of $210.45. The firm has a market cap of $140.28 billion, a PE ratio of 93.11, a price-to-earnings-growth ratio of 0.70 and a beta of 1.19.

Capital One Financial (NYSE:COF) last posted its quarterly earnings results on Monday, November 3rd. The financial services provider reported $5.95 EPS for the quarter. The company had revenue of $15.46 billion during the quarter. Capital One Financial had a net margin of 2.24% and a return on equity of 10.94%. Equities research analysts predict that Capital One Financial Corporation will post 15.65 earnings per share for the current year.

Capital One Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, November 17th. This is a boost from Capital One Financial’s previous quarterly dividend of $0.60. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Capital One Financial’s payout ratio is 135.02%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COF. Royal Bank Of Canada raised their price objective on shares of Capital One Financial from $240.00 to $255.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Capital One Financial from $224.00 to $240.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Redburn Atlantic upgraded Capital One Financial to a “strong-buy” rating in a research report on Friday, August 1st. Wolfe Research upped their target price on Capital One Financial from $260.00 to $262.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, UBS Group reduced their price target on shares of Capital One Financial from $270.00 to $266.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $261.63.

Insiders Place Their Bets

In other news, insider Neal Blinde sold 43,200 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $221.83, for a total transaction of $9,583,056.00. Following the transaction, the insider directly owned 73,020 shares of the company’s stock, valued at approximately $16,198,026.60. The trade was a 37.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard D. Fairbank sold 103,487 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $220.68, for a total value of $22,837,511.16. Following the transaction, the chief executive officer owned 4,001,228 shares of the company’s stock, valued at approximately $882,990,995.04. This represents a 2.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 256,380 shares of company stock worth $57,129,478 in the last quarter. 1.26% of the stock is currently owned by company insiders.

Capital One Financial 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.