Capital One Financial Corporation (NYSE:COF) was up 8.6% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $88.24 and last traded at $87.94, with a volume of 9,686,717 shares. The stock had previously closed at $81.01.

The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.06. Capital One Financial Corporation had a return on equity of 7.92% and a net margin of 13.32%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, August 3rd. Capital One Financial Corporation’s dividend payout ratio (DPR) is currently 23.43%.

Capital One Financial Corporation announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $1.85 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Several equities research analysts have issued reports on COF shares. Wedbush lowered Capital One Financial Corporation from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $94.00 to $80.00 in a research note on Wednesday, July 5th. Instinet reaffirmed a “buy” rating and set a $101.00 price target (down previously from $105.00) on shares of Capital One Financial Corporation in a research note on Saturday, April 29th. Deutsche Bank AG raised Capital One Financial Corporation from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Monday, May 1st. Wells Fargo & Company reissued a “market perform” rating and issued a $85.00 target price (down previously from $88.00) on shares of Capital One Financial Corporation in a research note on Sunday, May 21st. Finally, CIBC lowered their target price on Capital One Financial Corporation from $84.00 to $80.00 and set an “underperform” rating for the company in a research note on Wednesday, April 26th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Capital One Financial Corporation has an average rating of “Hold” and a consensus target price of $92.90.

In related news, CEO Richard D. Fairbank sold 367,419 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $87.02, for a total value of $31,972,801.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.73% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Capital One Financial Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 31,454,174 shares of the financial services provider’s stock valued at $2,725,818,000 after buying an additional 963,101 shares during the last quarter. BlackRock Inc. increased its stake in Capital One Financial Corporation by 3,066.1% in the first quarter. BlackRock Inc. now owns 31,294,690 shares of the financial services provider’s stock valued at $2,711,996,000 after buying an additional 30,306,250 shares during the last quarter. State Street Corp increased its stake in Capital One Financial Corporation by 0.7% in the first quarter. State Street Corp now owns 21,864,090 shares of the financial services provider’s stock valued at $1,894,742,000 after buying an additional 157,141 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Capital One Financial Corporation by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 6,840,874 shares of the financial services provider’s stock valued at $565,193,000 after buying an additional 429,462 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Capital One Financial Corporation by 2.5% in the first quarter. Geode Capital Management LLC now owns 4,684,142 shares of the financial services provider’s stock valued at $405,344,000 after buying an additional 113,839 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

The company has a market cap of $41.39 billion, a P/E ratio of 12.47 and a beta of 1.20. The firm has a 50 day moving average of $83.03 and a 200-day moving average of $84.70.

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Capital One Financial Corporation Company 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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