Calamos Wealth Management LLC bought a new position in shares of Capital One Financial Corp. (NYSE:COF) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,803 shares of the financial services provider’s stock, valued at approximately $578,000.
Several other large investors also recently modified their holdings of COF. Davis Selected Advisers increased its position in shares of Capital One Financial by 43.7% during the third quarter. Davis Selected Advisers now owns 11,581,237 shares of the financial services provider’s stock worth $980,149,000 after acquiring an additional 3,519,332 shares during the period. APG Asset Management N.V. increased its holdings in Capital One Financial by 1,256.0% during the fourth quarter. APG Asset Management N.V. now owns 1,851,401 shares of the financial services provider’s stock valued at $153,533,000 after buying an additional 1,714,867 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Capital One Financial by 49,032.3% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,479,866 shares of the financial services provider’s stock valued at $147,365,000 after buying an additional 1,476,854 shares during the period. Point72 Asset Management L.P. increased its holdings in Capital One Financial by 229.4% during the third quarter. Point72 Asset Management L.P. now owns 1,647,291 shares of the financial services provider’s stock valued at $139,460,000 after buying an additional 1,147,191 shares during the period. Finally, Cornerstone Investment Partners LLC increased its holdings in Capital One Financial by 87.9% during the fourth quarter. Cornerstone Investment Partners LLC now owns 2,045,312 shares of the financial services provider’s stock valued at $203,672,000 after buying an additional 956,815 shares during the period. 88.66% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Robert M. Alexander sold 76,354 shares of Capital One Financial stock in a transaction on Monday, December 4th. The shares were sold at an average price of $94.84, for a total transaction of $7,241,413.36. Following the completion of the sale, the insider now directly owns 89,603 shares in the company, valued at $8,497,948.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard D. Fairbank sold 485,202 shares of Capital One Financial stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $105.09, for a total transaction of $50,989,878.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 960,555 shares of company stock valued at $97,981,047. 1.73% of the stock is owned by insiders.
Capital One Financial (NYSE:COF) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $1.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.85 by ($0.23). The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7.12 billion. Capital One Financial had a net margin of 6.89% and a return on equity of 8.36%. Capital One Financial’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share. equities research analysts anticipate that Capital One Financial Corp. will post 9.72 EPS for the current year.
Capital One Financial announced that its board has approved a stock buyback program on Tuesday, December 26th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were paid a $0.40 dividend. The ex-dividend date was Friday, February 9th. This represents a $1.60 annualized dividend and a yield of 1.63%. Capital One Financial’s dividend payout ratio (DPR) is 46.38%.
Several brokerages recently issued reports on COF. Nomura lowered shares of Capital One Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $111.00 to $109.00 in a report on Wednesday, February 21st. Instinet lowered shares of Capital One Financial from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $98.47 to $109.00 in a report on Wednesday, February 21st. Morgan Stanley lifted their price objective on shares of Capital One Financial from $110.00 to $111.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Royal Bank of Canada reissued a “buy” rating and set a $110.00 price objective on shares of Capital One Financial in a report on Wednesday, January 24th. Finally, Buckingham Research lifted their price objective on shares of Capital One Financial from $110.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. Capital One Financial currently has an average rating of “Hold” and an average target price of $107.00.
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Capital One Financial 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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