Capital One (COF) Shares Gap Down After Analyst Downgrade

Capital One (NYSE:COF) gapped down before the market opened on Wednesday after BMO Capital Markets lowered their price target on the stock from $140.00 to $133.00. The stock had previously closed at $100.79, but opened at $97.42. BMO Capital Markets currently has an outperform rating on the stock. Capital One shares last traded at $92.76, with a volume of 6256674 shares traded.

Several other equities research analysts have also issued reports on COF. Oppenheimer reissued a “hold” rating on shares of Capital One in a research note on Tuesday. Robert W. Baird reissued a “hold” rating on shares of Capital One in a research note on Wednesday. Zacks Investment Research lowered shares of Capital One from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Sandler O’Neill set a $113.00 target price on shares of Capital One and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Finally, Wells Fargo lowered their target price on shares of Capital One from $117.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. Capital One presently has a consensus rating of “Hold” and an average target price of $107.86.

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In related news, insider Kleber Santos sold 1,711 shares of the company’s stock in a transaction dated Thursday, March 22nd. The shares were sold at an average price of $97.00, for a total transaction of $165,967.00. Following the completion of the transaction, the insider now owns 15,894 shares in the company, valued at approximately $1,541,718. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bradford H. Warner sold 3,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $95.05, for a total transaction of $285,150.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 575,606 shares of company stock valued at $60,316,349. Insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its holdings in Capital One by 21.3% in the 3rd quarter. Prudential Financial Inc. now owns 2,775,787 shares of the financial services provider’s stock valued at $234,999,000 after acquiring an additional 487,880 shares during the last quarter. Abner Herrman & Brock LLC acquired a new stake in Capital One in the 4th quarter valued at about $219,000. DnB Asset Management AS raised its holdings in Capital One by 1.4% in the 4th quarter. DnB Asset Management AS now owns 52,038 shares of the financial services provider’s stock valued at $5,182,000 after acquiring an additional 700 shares during the last quarter. Harvest Capital Management Inc acquired a new stake in Capital One in the 4th quarter valued at about $224,000. Finally, Acropolis Investment Management LLC raised its holdings in Capital One by 69.1% in the 4th quarter. Acropolis Investment Management LLC now owns 15,118 shares of the financial services provider’s stock valued at $1,505,000 after acquiring an additional 6,176 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

The firm has a market cap of $47,412.99, a P/E ratio of 11.91, a PEG ratio of 0.86 and a beta of 1.31. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.07 and a current ratio of 1.08.

Capital One (NYSE:COF) last released its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $2.65 EPS for the quarter, beating the Zacks’ consensus estimate of $2.34 by $0.31. The company had revenue of $6.90 million during the quarter, compared to the consensus estimate of $6.93 billion. Capital One had a net margin of 6.89% and a return on equity of 8.36%. Capital One’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 EPS. research analysts expect that Capital One will post 9.86 earnings per share for the current year.

Capital One announced that its board has approved a share buyback plan on Tuesday, December 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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About Capital One

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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