Suffolk Capital Management LLC Raises Position in Capital One Financial Corp. (COF)
Suffolk Capital Management LLC boosted its holdings in Capital One Financial Corp. (NYSE:COF) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130,331 shares of the financial services provider’s stock after acquiring an additional 8,320 shares during the period. Suffolk Capital Management LLC’s holdings in Capital One Financial were worth $12,372,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fox Run Management L.L.C. purchased a new stake in Capital One Financial in the second quarter worth about $221,000. James Investment Research Inc. purchased a new stake in Capital One Financial in the second quarter worth about $2,382,000. Cornerstone Wealth Management LLC purchased a new stake in Capital One Financial in the second quarter worth about $588,000. Sumitomo Life Insurance Co. lifted its holdings in Capital One Financial by 4.5% in the second quarter. Sumitomo Life Insurance Co. now owns 16,717 shares of the financial services provider’s stock worth $1,536,000 after buying an additional 716 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Capital One Financial in the second quarter worth about $277,000. 89.33% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on COF. Zacks Investment Research upgraded shares of Capital One Financial from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a report on Tuesday, July 24th. UBS Group lowered their price objective on shares of Capital One Financial from $116.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, August 7th. Oppenheimer set a $116.00 price objective on shares of Capital One Financial and gave the stock a “buy” rating in a report on Tuesday, September 18th. Wells Fargo & Co lifted their target price on shares of Capital One Financial from $109.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, October 1st. Finally, BMO Capital Markets lifted their target price on shares of Capital One Financial from $132.00 to $135.00 and gave the company an “outperform” rating in a report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. Capital One Financial currently has a consensus rating of “Buy” and a consensus target price of $109.33.
Capital One Financial (NYSE:COF) last announced its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.23. Capital One Financial had a net margin of 11.84% and a return on equity of 11.01%. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.88 billion. During the same period in the previous year, the business earned $2.42 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Sell-side analysts predict that Capital One Financial Corp. will post 11.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Monday, November 12th will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 1.86%. Capital One Financial’s payout ratio is currently 20.54%.
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Capital One Financial Profile
Capital One Financial Corporation operates as the bank holding company for the Capital One Bank (USA), National Association; and Capital One, National Association, which provides various financial products and services in the United States, the United Kingdom, and Canada. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.
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