First Fiduciary Investment Counsel Inc. Acquires New Position in Capital One Financial Corporation (COF)

First Fiduciary Investment Counsel Inc. acquired a new position in Capital One Financial Corporation (NYSE:COF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 140,215 shares of the financial services provider’s stock, valued at approximately $11,585,000. Capital One Financial Corporation makes up about 2.2% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 25th largest holding.

A number of other large investors have also modified their holdings of COF. BB&T Investment Services Inc. purchased a new position in Capital One Financial Corporation in the second quarter worth $108,000. Seven Eight Capital LP grew its holdings in Capital One Financial Corporation by 16.7% in the second quarter. Seven Eight Capital LP now owns 1,400 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 200 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in Capital One Financial Corporation by 47.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,652 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 529 shares during the last quarter. Westside Investment Management Inc. grew its holdings in Capital One Financial Corporation by 48.0% in the second quarter. Westside Investment Management Inc. now owns 1,745 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 566 shares during the last quarter. Finally, Guardian Life Insurance Co. of America grew its holdings in Capital One Financial Corporation by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,860 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 11 shares during the last quarter. 87.99% of the stock is owned by institutional investors.

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Capital One Financial Corporation (NYSE COF) traded up 1.24% during midday trading on Friday, reaching $85.64. 1,022,239 shares of the company’s stock traded hands. The company has a market capitalization of $41.45 billion, a PE ratio of 12.49 and a beta of 1.23. The firm’s 50 day moving average price is $82.25 and its 200-day moving average price is $82.26. Capital One Financial Corporation has a 1-year low of $71.23 and a 1-year high of $96.92.

Capital One Financial Corporation (NYSE:COF) last issued its earnings results on Thursday, July 20th. The financial services provider reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.06. The business had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $6.68 billion. Capital One Financial Corporation had a net margin of 13.32% and a return on equity of 7.92%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 earnings per share. Equities analysts expect that Capital One Financial Corporation will post $7.50 EPS for the current year.

Capital One Financial Corporation announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $1.85 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other news, CEO Richard D. Fairbank sold 367,419 shares of Capital One Financial Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $87.02, for a total value of $31,972,801.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.73% of the stock is owned by insiders.

Several research firms have issued reports on COF. BMO Capital Markets reaffirmed a “buy” rating and issued a $116.00 price target on shares of Capital One Financial Corporation in a report on Friday, October 6th. Wedbush lowered shares of Capital One Financial Corporation from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $94.00 to $80.00 in a report on Wednesday, July 5th. Wells Fargo & Company began coverage on shares of Capital One Financial Corporation in a report on Tuesday. They issued an “outperform” rating and a $96.00 price target on the stock. Compass Point began coverage on shares of Capital One Financial Corporation in a report on Thursday, August 10th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Oppenheimer Holdings, Inc. set a $82.00 price target on shares of Capital One Financial Corporation and gave the stock a “sell” rating in a report on Tuesday, July 11th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $93.36.

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.

Institutional Ownership by Quarter for Capital One Financial Corporation (NYSE:COF)

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