Cumberland Partners Ltd trimmed its holdings in Capital One Financial Corp. (NYSE:COF) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 85,975 shares of the financial services provider’s stock after selling 8,480 shares during the period. Cumberland Partners Ltd’s holdings in Capital One Financial were worth $8,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. BB&T Investment Services Inc. purchased a new position in Capital One Financial in the 2nd quarter valued at $108,000. Cerebellum GP LLC purchased a new position in Capital One Financial in the 4th quarter valued at $127,000. Archford Capital Strategies LLC grew its position in Capital One Financial by 8,078.3% in the 2nd quarter. Archford Capital Strategies LLC now owns 4,907 shares of the financial services provider’s stock valued at $140,000 after buying an additional 4,847 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Capital One Financial in the 4th quarter valued at $141,000. Finally, Camelot Portfolios LLC purchased a new position in Capital One Financial in the 3rd quarter valued at $201,000. 88.87% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Richard D. Fairbank sold 485,202 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $105.09, for a total value of $50,989,878.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert M. Alexander sold 76,354 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was 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 owns 89,603 shares in the company, valued at $8,497,948.52. The disclosure for this sale can be found here. Insiders sold a total of 954,948 shares of company stock worth $97,433,019 over the last quarter. Insiders own 1.73% of the company’s stock.
Capital One Financial (NYSE:COF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $1.62 EPS for the quarter, missing the consensus estimate of $1.85 by ($0.23). Capital One Financial had a return on equity of 8.36% and a net margin of 6.89%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the firm posted $1.45 earnings per share. Capital One Financial’s revenue for the quarter was up 6.6% on a year-over-year basis. sell-side analysts predict that Capital One Financial Corp. will post 9.72 earnings per share for the current fiscal year.
Capital One Financial announced that its board has approved a stock repurchase program on Tuesday, December 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be given a $0.40 dividend. The ex-dividend date is Friday, February 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.63%. Capital One Financial’s dividend payout ratio is presently 46.38%.
COF has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Capital One Financial from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Friday, October 27th. Bank of America upgraded shares of Capital One Financial from a “neutral” rating to a “buy” rating and set a $107.00 price objective on the stock in a research report on Monday, December 18th. Compass Point upgraded shares of Capital One Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $99.52 to $122.00 in a research report on Friday, December 22nd. Royal Bank of Canada reiterated a “buy” rating and issued a $113.00 price objective on shares of Capital One Financial in a research report on Tuesday, January 9th. 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 research report on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $106.14.
About Capital One Financial
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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