Capital One Financial Corporation (COF) - NYSE
  • Jul. 30, 2015, 11:35 AM
    • Capital One Financial (NYSE:COF) declares $0.40/share quarterly dividend, in line with previous.
    • Forward yield 1.97%
    • Payable Aug. 20; for shareholders of record Aug. 10; ex-div Aug. 6.
    | Jul. 30, 2015, 11:35 AM
  • Jul. 30, 2015, 10:02 AM
    • Capital One (COF +1.4%) is an outlier to the upside in the credit card space after Morgan Stanley buys the big post-earnings dip in the stock, upgrading to Overweight from Equalweight. The price target is $90.
    • CapOne suffered a trio of downgrades and a plummeting stock price on the day of its earnings disappointment last week, but this week has received two upgrades - today's from Morgan and Monday from CLSA.
    • Previously: Capital One tumbles after earnings miss and trio of downgrades (July 24)
    | Jul. 30, 2015, 10:02 AM
  • Jul. 24, 2015, 3:31 PM
    • Goldman's (GS -1.8%) Q2 results confirmed the team's expectation of positive revisions to 2016 consensus EPS. Zions (ZION -0.7%) has "multiple catalysts" to reach improve profitability goals and EPS growth over the next three years.
    • Guggenheim's four key investment themes: 1) Names levered to improving M&A, with Goldman being the best idea, followed by Morgan Stanley (MS -1.3%); 2) Restructuring stories, with Zions the best idea, but First Horizon (FHN -1%), Ally Financial (ALLY -1.8%), and BofA (BAC -1.6%) also worth looking at; 3) Idiosyncratic growth stories like MasterCard (MA +0.7%), Visa (V +4.5%), Synchrony Financial (SYF -2.4%), and Signature Bank (SBNY -0.8%); 4) Names with a distinct M&A catalyst in the regionals group like BB&T (BBT -1.5%), CIT Group (CIT -1.6%), and Springleaf (LEAF -1.4%).
    • Mixed results from credit card companies affirm the team's preference for SYF, but the risk/reward at AmEx (AXP -1.4%) is improving. AmEx, CapOne (COF -13%), and Discover (DFS -2.7%) results show the boosted competition they face form the banks, which is slowing growth, and lifting marketing and rewards costs.
    • Source: Barron's
    • Previously: Capital One tumbles after earnings miss and trio of downgrades (July 24)
    | Jul. 24, 2015, 3:31 PM | 10 Comments
  • Jul. 24, 2015, 9:33 AM
    • A big run higher in Capital One (COF -9.4%) is temporarily halted after the company's Q2 miss last night, gives Goldman Sachs, JPMorgan, and Wells Fargo an excuse to ring the register on their Buy recommendations.
    • Speaking on the earnings call, CEO Richard Fairbank points to brewing issues in auto lending, noting softening used vehicle values (though still high) and continued increased competition in pricing and underwriting. "We are losing some contracts to competitors who are making more aggressive underwriting choices."
    • CC transcript
    • Even if rates rise this year, it won't be enough to save returns on CapOne's deposit business in the near term, says Fairbank. Adding home loans runoff, slowing auto loan growth, and compressing margins to the mix means revenues and the efficiency ratio will be negatively affected the rest of this year and 2016, he says.
    • Also on the conference call, Goldman analyst Ryan Nash leans in on the big jump in provisions (up 60% Y/Y). Management says most of it is driven by Card growth, but there's been no change in the mid-to-high 3% range for losses.
    • Previously: Capital One misses estimates as provisions rise (July 23)
    | Jul. 24, 2015, 9:33 AM | 4 Comments
  • Jul. 24, 2015, 9:17 AM
    | Jul. 24, 2015, 9:17 AM | 1 Comment
  • Jul. 23, 2015, 11:08 PM
    • Capital One Financial (NYSE:COF): Q2 EPS of $1.78 misses by $0.19.
    • Revenue of $5.7B (+4.2% Y/Y) misses by $40M.
    | Jul. 23, 2015, 11:08 PM
  • Jul. 23, 2015, 4:43 PM
    • Q2 adjusted net income of $1B or $1.78 per share vs. $1.2B and $2.04 one year ago.
    • Net interest income of $4.537B up 5% Y/Y. Noninterest income of $1.135B down 2%.
    • Provision for credit losses of $1.129B up 60% Y/Y ($78M build in U.K. PPI reserve). Marketing expense of $387M up 16%. Total noninterest expense of $3.307B up 11%.
    • Efficiency ratio of 58.3% vs. 54.48% one year ago. Net charge-off rate of 1.64% down 3 basis points.
    • Domestic card period-end loans of $79B up 7%. Auto loans of $40B down 3%. Home loans of $27.6B down 5%.
    • Earnings call at 5 ET
    • COF flat after hours
    | Jul. 23, 2015, 4:43 PM
  • Jul. 22, 2015, 5:35 PM
  • Jun. 25, 2015, 3:07 PM
    • Among those who placed initial bids last week for GE's health-care finance unit was the diverse group of Capital One (NYSE:COF), Apollo Global (NYSE:APO), Ares Management (NYSE:ARES), and Ventas (NYSE:VTR), reports Bloomberg. The operation could fetch more than $11B, say sources.
    • The sale of the unit comes as GE is in the process of breaking up GE Capital by selling several lending businesses totaling roughly $200B in assets.
    | Jun. 25, 2015, 3:07 PM | 11 Comments
  • Jun. 15, 2015, 8:14 AM
    • COF net charge-off rate for May of 3.39% slips from 3.66% in April.
    • The 30-day performing delinquency rate of 2.74% edges down from 2.77%.
    • Source: SEC Form 8-K
    | Jun. 15, 2015, 8:14 AM
  • Jun. 11, 2015, 12:46 PM
    • Wells Fargo (NYSE:WFC), TD Bank (NYSE:TD), Capital One (NYSE:COF), and U.S. Bancorp (NYSE:USB) are considering making a play for a $40B chunk of GE's U.S. commercial lending business, reports Bloomberg, which says the lenders have signed NDAs in order to review four lines.
    • GE reportedly will accept bids for one or multiple lines, and this week is expected to set a date for when initial offers are due.
    • While Wells and TD are among a handful of North American banks which have the capacity to buy all four lines, neither is interested in all of them, say sources.
    • In total, GE has about $74B in U.S. commercial loans and leases, with nearly all of it up for sale.
    | Jun. 11, 2015, 12:46 PM | 2 Comments
  • Apr. 30, 2015, 9:47 AM
    • Capital One Financial (NYSE:COF) declares $0.40/share quarterly dividend, 33.3% increase from prior dividend of $0.30.
    • Forward yield 2.0%
    • Payable May 21; for shareholders of record May 11; ex-div May 7.
    | Apr. 30, 2015, 9:47 AM
  • Apr. 24, 2015, 10:03 AM
    • FBR downgrades Capital One (COF -1.7%) to Market Perform from Outperform, with the price target lowered to $87 from $94.
    • FBR didn't participate in the earnings call (transcript) last night, but one item of interest is CapOne's growing caution on auto lending. Management saw increasingly aggressive underwriting practices by some competitors in Q1, particularly in subprime, and CapOne losing a bit of business as a result.
    • Also on the worry list are the historically high used-car values. A decline would pressure results, but management says lower prices are assumed during underwriting and isn't too concerned about the impact.
    • Previously: More on Capital One's mixed results (April 23)
    | Apr. 24, 2015, 10:03 AM
  • Apr. 23, 2015, 4:34 PM
    • Q1 net income of $1.2B or $2.00 per share vs. $1.2B and $1.96 one year ago. Stock float of 557.2M shares down from 580.3M.
    • Net interest income of $4.576B down 5% Y/Y. Net interest margin of 6.57% down five basis points. Noninterest income of $1.071B up 5%.
    • Provision for credit losses of $935M up 27%.
    • Marketing expense of $375M up 15%. Total operating expenses of $2.557B up 5%.
    • Domestic Card period-end loans of $74.1B down 5%.
    • Consumer Banking period-end loans of $71.4 down marginally. Auto period-end loans of $38.9B up 3%. Home period-end loans of $28.9B down 4%.
    • Conference call at 5 ET
    • Previously: Capital One Financial beats by $0.12, misses on revenue (April 23)
    • COF flat after hours
    | Apr. 23, 2015, 4:34 PM | 1 Comment
  • Apr. 23, 2015, 4:17 PM
    • Capital One Financial (NYSE:COF): Q1 EPS of $2.00 beats by $0.12.
    • Revenue of $5.64B (+5.0% Y/Y) misses by $60M.
    | Apr. 23, 2015, 4:17 PM
  • Apr. 22, 2015, 5:35 PM
Company Description
Capital One Financial Corp. is a financial holding company operating through its subsidiaries, which include Capital One, NA and Capital One Bank USA, NA. It offers financial products and services to consumers, small businesses and commercial clients. The company operates through three segments:... More
Sector: Financial
Industry: Credit Services
Country: United States