Capital One Financial’s (COF) “Buy” Rating Reaffirmed at Royal Bank of Canada
Royal Bank of Canada reiterated their buy rating on shares of Capital One Financial (NYSE:COF) in a research note issued to investors on Tuesday. They currently have a $113.00 price objective on the financial services provider’s stock.
COF has been the subject of a number of other reports. BMO Capital Markets reissued a buy rating and set a $116.00 price objective on shares of Capital One Financial in a report on Friday, October 6th. Wells Fargo & Co assumed coverage on Capital One Financial in a report on Tuesday, October 10th. They set an outperform rating and a $96.00 price objective for the company. Piper Jaffray Companies assumed coverage on Capital One Financial in a report on Thursday, September 21st. They set an underweight rating and a $81.00 price objective for the company. Credit Suisse Group reissued a neutral rating on shares of Capital One Financial in a report on Wednesday, December 27th. Finally, Wedbush raised Capital One Financial from an underperform rating to a neutral rating and set a $80.00 price objective for the company in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $102.14.
Shares of Capital One Financial (NYSE:COF) traded up $1.28 on Tuesday, reaching $104.42. The company’s stock had a trading volume of 2,177,700 shares, compared to its average volume of 2,115,050. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.07 and a quick ratio of 1.06. The company has a market cap of $51,130.00, a price-to-earnings ratio of 14.65, a P/E/G ratio of 1.38 and a beta of 1.28. Capital One Financial has a 1 year low of $76.05 and a 1 year high of $104.46.
Capital One Financial declared that its board has approved a stock repurchase plan on Tuesday, December 26th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
In related news, insider Michael Slocum sold 8,292 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $91.99, for a total value of $762,781.08. Following the transaction, the insider now owns 53,613 shares in the company, valued at $4,931,859.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann F. Hackett sold 11,055 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $91.18, for a total value of $1,007,994.90. Following the completion of the transaction, the director now owns 69,066 shares in the company, valued at approximately $6,297,437.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,282 shares of company stock worth $42,264,713. 1.73% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. South State Corp lifted its stake in Capital One Financial by 9.2% in the second quarter. South State Corp now owns 65,457 shares of the financial services provider’s stock valued at $5,408,000 after purchasing an additional 5,510 shares during the last quarter. Bank of Nova Scotia lifted its stake in Capital One Financial by 70.8% in the second quarter. Bank of Nova Scotia now owns 187,907 shares of the financial services provider’s stock valued at $15,525,000 after purchasing an additional 77,861 shares during the last quarter. Quantbot Technologies LP purchased a new position in Capital One Financial in the third quarter valued at approximately $1,635,000. Norinchukin Bank The lifted its stake in Capital One Financial by 9.5% in the third quarter. Norinchukin Bank The now owns 43,270 shares of the financial services provider’s stock valued at $3,663,000 after purchasing an additional 3,743 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in Capital One Financial by 24.3% in the third quarter. Private Advisor Group LLC now owns 13,372 shares of the financial services provider’s stock valued at $1,160,000 after purchasing an additional 2,613 shares during the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.
Capital One Financial Company Profile
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.
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