Hodges Capital Management Inc. Invests $473,000 in Capital One Financial Corporation $COF

Hodges Capital Management Inc. acquired a new stake in Capital One Financial Corporation (NYSE:COF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,359 shares of the financial services provider’s stock, valued at approximately $473,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Capital One Financial by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 56,897,238 shares of the financial services provider’s stock worth $13,789,615,000 after purchasing an additional 360,071 shares in the last quarter. Franklin Resources Inc. boosted its stake in Capital One Financial by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 12,476,462 shares of the financial services provider’s stock valued at $3,023,795,000 after purchasing an additional 638,158 shares in the last quarter. Morgan Stanley boosted its stake in Capital One Financial by 3.9% during the 4th quarter. Morgan Stanley now owns 8,677,981 shares of the financial services provider’s stock valued at $2,103,196,000 after purchasing an additional 323,350 shares in the last quarter. Norges Bank acquired a new position in shares of Capital One Financial during the 4th quarter valued at $2,089,803,000. Finally, Davis Selected Advisers increased its position in shares of Capital One Financial by 2.8% during the 4th quarter. Davis Selected Advisers now owns 8,614,766 shares of the financial services provider’s stock valued at $2,087,878,000 after purchasing an additional 234,649 shares during the period. Institutional investors and hedge funds own 89.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on COF shares. TD Cowen cut their price objective on Capital One Financial from $260.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on Capital One Financial from $215.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Piper Sandler initiated coverage on Capital One Financial in a report on Monday, June 29th. They set an “overweight” rating and a $254.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Capital One Financial from $256.00 to $250.00 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Finally, Citigroup cut their price target on shares of Capital One Financial from $310.00 to $295.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Twenty-one equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.36.

Capital One Financial Price Performance

NYSE COF opened at $227.19 on Friday. Capital One Financial Corporation has a 1 year low of $174.24 and a 1 year high of $259.64. The business’s fifty day moving average is $204.93 and its two-hundred day moving average is $198.21. The stock has a market capitalization of $139.38 billion, a P/E ratio of 14.06, a P/E/G ratio of 0.82 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.02.

Capital One Financial (NYSE:COF) last released its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $5.81 earnings per share for the quarter, topping the consensus estimate of $4.79 by $1.02. The business had revenue of $15.83 billion during the quarter, compared to analyst estimates of $15.76 billion. Capital One Financial had a return on equity of 11.28% and a net margin of 13.37%.The company’s revenue was up 26.9% compared to the same quarter last year. During the same period last year, the company posted $5.48 EPS. On average, research analysts forecast that Capital One Financial Corporation will post 20.19 earnings per share for the current fiscal year.

Capital One Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, August 17th. Capital One Financial’s dividend payout ratio is currently 19.80%.

Insider Buying and Selling

In related news, insider Michael Zamsky sold 5,473 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $218.02, for a total value of $1,193,223.46. Following the completion of the transaction, the insider owned 27,992 shares in the company, valued at $6,102,815.84. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ravi Raghu sold 9,726 shares of Capital One Financial stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $209.78, for a total value of $2,040,320.28. Following the completion of the transaction, the insider directly owned 26,328 shares in the company, valued at $5,523,087.84. This represents a 26.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 22,186 shares of company stock valued at $4,697,301. 0.78% of the stock is currently owned by company insiders.

About Capital One Financial

Capital One Financial Corporation (NYSE: COF) is a diversified bank holding company headquartered in McLean, Virginia. The company’s core businesses include credit card lending, consumer and commercial banking, and auto finance. Capital One issues a wide range of credit card products for consumers and small businesses, and it operates deposit and digital banking services aimed at retail customers and small to midsize enterprises.

Products and services include credit and charge cards, checking and savings accounts (including the online-focused Capital One 360 platform), auto loans, and commercial lending solutions.