Meridian Investment Counsel Inc. Purchases Shares of 12,326 Capital One Financial Corporation $COF

Meridian Investment Counsel Inc. purchased a new position in Capital One Financial Corporation (NYSE:COF) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,326 shares of the financial services provider’s stock, valued at approximately $2,620,000.

Several other hedge funds have also modified their holdings of the stock. Moisand Fitzgerald Tamayo LLC increased its holdings in Capital One Financial by 103.3% during the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 122 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 62 shares during the period. Olistico Wealth LLC grew its position in shares of Capital One Financial by 439.1% during the second quarter. Olistico Wealth LLC now owns 124 shares of the financial services provider’s stock worth $26,000 after buying an additional 101 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of Capital One Financial during the second quarter worth about $27,000. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Capital One Financial by 66.7% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 125 shares of the financial services provider’s stock worth $27,000 after buying an additional 50 shares during the period. Finally, Signature Resources Capital Management LLC acquired a new stake in Capital One Financial in the second quarter valued at approximately $28,000. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Capital One Financial

In other news, insider Ravi Raghu sold 13,450 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $250.00, for a total transaction of $3,362,500.00. Following the transaction, the insider directly owned 30,337 shares in the company, valued at approximately $7,584,250. This trade represents a 30.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard D. Fairbank sold 103,487 shares of Capital One Financial stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $220.68, for a total transaction of $22,837,511.16. Following the completion of the transaction, the chief executive officer directly owned 4,001,228 shares in the company, valued at $882,990,995.04. The trade was a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 296,895 shares of company stock valued at $66,611,541 over the last 90 days. 1.26% of the stock is owned by insiders.

Capital One Financial Price Performance

Shares of NYSE:COF opened at $253.26 on Thursday. Capital One Financial Corporation has a 12 month low of $143.22 and a 12 month high of $259.64. The firm has a market capitalization of $161.01 billion, a P/E ratio of 106.86, a P/E/G ratio of 0.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $229.14 and its 200 day moving average price is $221.49.

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

Capital One Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, November 17th. This represents a $3.20 dividend on an annualized basis and a yield of 1.3%. This is a boost from Capital One Financial’s previous quarterly dividend of $0.60. Capital One Financial’s dividend payout ratio (DPR) is 135.02%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COF shares. Cowen reiterated a “buy” rating on shares of Capital One Financial in a report on Wednesday, November 26th. Wall Street Zen upgraded shares of Capital One Financial from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Keefe, Bruyette & Woods boosted their target price on shares of Capital One Financial from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Evercore ISI reissued an “outperform” rating and issued a $290.00 target price on shares of Capital One Financial in a report on Tuesday. Finally, Jefferies Financial Group raised their price target on Capital One Financial from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Capital One Financial has a consensus rating of “Moderate Buy” and a consensus target price of $274.80.

Capital One Financial Profile

Capital One Financial Corporation (NYSE: COF) is a diversified bank holding company headquartered in McLean, Virginia. The company’s core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.