Sound Shore Management Inc. CT lowered its holdings in Capital One Financial Corp. (NYSE:COF) by 4.9% during the third quarter, Holdings Channel reports. The fund owned 2,046,644 shares of the financial services provider’s stock after selling 104,408 shares during the period. Capital One Financial accounts for about 3.3% of Sound Shore Management Inc. CT’s portfolio, making the stock its 9th biggest position. Sound Shore Management Inc. CT’s holdings in Capital One Financial were worth $194,288,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of COF. Farmers National Bank bought a new position in Capital One Financial in the second quarter worth about $102,000. Integrated Investment Consultants LLC bought a new position in Capital One Financial in the second quarter worth about $108,000. Kaizen Advisory LLC lifted its holdings in Capital One Financial by 161.0% in the second quarter. Kaizen Advisory LLC now owns 1,198 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 739 shares during the last quarter. Sun Life Financial INC lifted its holdings in Capital One Financial by 518.3% in the second quarter. Sun Life Financial INC now owns 1,317 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 1,104 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in Capital One Financial in the third quarter worth about $130,000. 89.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Citigroup cut their target price on shares of Capital One Financial from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Zacks Investment Research raised Capital One Financial from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Friday, October 26th. Oppenheimer set a $101.00 price target on Capital One Financial and gave the company a “buy” rating in a report on Tuesday, October 23rd. Morgan Stanley lifted their price target on Capital One Financial from $104.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, July 20th. Finally, Wells Fargo & Co cut their price target on Capital One Financial from $110.00 to $103.00 and set an “outperform” rating on the stock in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.33.
Capital One Financial (NYSE:COF) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $3.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.23. Capital One Financial had a return on equity of 11.01% and a net margin of 11.84%. The firm had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.88 billion. During the same quarter in the previous year, the company earned $2.42 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts anticipate that Capital One Financial Corp. will post 11.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Monday, November 12th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.60 annualized dividend and a yield of 1.80%. Capital One Financial’s payout ratio is 20.54%.
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About Capital One Financial
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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