Bank of New York Mellon Corp Sells 30,603 Shares of Capital One Financial Co. (NYSE:COF)

Bank of New York Mellon Corp cut its stake in Capital One Financial Co. (NYSE:COF) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,198,351 shares of the financial services provider’s stock after selling 30,603 shares during the quarter. Bank of New York Mellon Corp owned about 0.84% of Capital One Financial worth $442,812,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COF. Capital Research Global Investors boosted its stake in Capital One Financial by 72.8% in the 1st quarter. Capital Research Global Investors now owns 21,128,089 shares of the financial services provider’s stock worth $3,145,761,000 after purchasing an additional 8,900,241 shares in the last quarter. Norges Bank purchased a new position in Capital One Financial in the 4th quarter worth approximately $409,831,000. Clearbridge Investments LLC lifted its position in Capital One Financial by 18.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,473,596 shares of the financial services provider’s stock valued at $517,184,000 after acquiring an additional 549,665 shares in the last quarter. National Bank of Canada FI boosted its stake in Capital One Financial by 443.1% during the 4th quarter. National Bank of Canada FI now owns 553,744 shares of the financial services provider’s stock valued at $73,150,000 after purchasing an additional 451,789 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of Capital One Financial by 5,968.2% during the fourth quarter. Panagora Asset Management Inc. now owns 418,404 shares of the financial services provider’s stock valued at $54,861,000 after buying an additional 411,509 shares during the last quarter. 89.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COF. Jefferies Financial Group upgraded shares of Capital One Financial from a “hold” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $165.00 in a research note on Thursday, June 6th. Bank of America boosted their target price on shares of Capital One Financial from $158.00 to $161.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on Capital One Financial from $148.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. BTIG Research initiated coverage on Capital One Financial in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $150.00 target price on shares of Capital One Financial in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $145.89.

Capital One Financial Price Performance

Capital One Financial stock traded down $0.02 during midday trading on Monday, reaching $142.52. 1,559,185 shares of the stock traded hands, compared to its average volume of 2,495,079. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.81. Capital One Financial Co. has a 12 month low of $88.23 and a 12 month high of $153.35. The stock’s fifty day moving average is $140.14 and its 200-day moving average is $139.90. The stock has a market cap of $54.19 billion, a P/E ratio of 11.16, a PEG ratio of 1.13 and a beta of 1.45.

Capital One Financial (NYSE:COF) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $3.14 EPS for the quarter, missing analysts’ consensus estimates of $3.28 by ($0.14). The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Capital One Financial had a return on equity of 9.31% and a net margin of 9.01%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.52 earnings per share. As a group, equities research analysts anticipate that Capital One Financial Co. will post 13.17 EPS for the current year.

Capital One Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, August 12th. Capital One Financial’s payout ratio is presently 18.79%.

Insider Buying and Selling

In other Capital One Financial news, CEO Kevin S. Borgmann sold 61,532 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $132.86, for a total value of $8,175,141.52. Following the completion of the sale, the chief executive officer now directly owns 40,934 shares of the company’s stock, valued at approximately $5,438,491.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Robert M. Alexander sold 30,742 shares of Capital One Financial stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $150.00, for a total value of $4,611,300.00. Following the transaction, the insider now directly owns 73,734 shares in the company, valued at approximately $11,060,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin S. Borgmann sold 61,532 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $132.86, for a total value of $8,175,141.52. Following the sale, the chief executive officer now owns 40,934 shares of the company’s stock, valued at $5,438,491.24. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

About Capital One Financial

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.