Capital One Financial CorporationNYSE
Mon, Oct. 3, 7:49 AM
- A consortium of investors has emerged as the leading bidder for Cabela's (NYSE:CAB), sources tell Reuters.
- The group includes Bass Pro Shops, the PE arm of Goldman Sachs (NYSE:GS), and Capital One Financial (NYSE:COF).
- Speculation on a Cabela's buyout has gone on for almost a year after the company opened itself up to considering strategic alternatives.
- CAB +5.59% premarket to $58.00. Shares of the retailer are up 24.5% over the last 52 weeks.
Thu, Sep. 29, 4:19 PM
- Privately-held Bass Pro Shops is partnering with the private-equity arm of Goldman Sachs (NYSE:GS), and they're working on a bid with Capital One (NYSE:COF), which is interested in Cabela's (NYSE:CAB) credit card business, according to Reuters' sources.
- Then there's P-E outfit Sycamore Partners which is pairing with Synchrony Financial (NYSE:SYF) to make an offer.
- Binding bids are due this week.
- Cabela's credit card business is called World's Foremost Bank, and it had nearly 2M accounts, $5B in loans, and $502M in revenue last year.
- Cabela's closed the session higher by 2.3%, with all of that gain coming in the last few minutes as this report hit the wires.
Tue, Sep. 13, 2:09 AM
- Despite the penalties imposed on Wells Fargo (NYSE:WFC), there is probably no broader problem in the U.S. banking industry over abusive sales practices, according to the head of the Consumer Financial Protection Bureau.
- Regulators fined the company a total of $185M last Thursday, while Moody's warned the episode would negatively affect the bank's debt. Wells paid another $5M to customers for creating more than 2M fake accounts.
- Related tickers: JPM, C, BAC, MS, USB, COF, FITB, TD, PNC, STI
Thu, Sep. 1, 4:09 AM
- Despite an increasing regulatory burden and lackluster share performance, the U.S. banking industry just logged its most profitable quarter ever, according to figures from SNL Financial and S&P Global Market Intelligence.
- Earnings for the three-month period totaled $43.6B, compared to the $43.01B in Q2 of 2015, a 1.4% beat.
- On a sequential basis, the April-to-June period topped the previous quarter by $4.56B, an 11.7% rise.
- Related tickers: JPM, C, BAC, WFC, GS, MS, USB, BK, STT, PNC, COF
Thu, Jul. 28, 1:07 PM
Thu, Jul. 21, 4:20 PM
- Q2 adjusted net income of $979M or $1.76 per share vs. $863M and $1.50 one year ago.
- Provisions up 4% for the quarter to $1.6B. Net charge-offs of $1.2B, reserve build of $465M.
- Net interest margin of 6.73 down two basis points.
- Period-end loans held for investment up 3% to $234.6B. Domestic card loans up 5% to $88.6B. Consumer banking loans up 1% to $71.4B - auto loans up 4% to $44.5B, home loans down 4% to $23.4B. Commercial loans up 3% to $66.2B.
- Earnings call at 5 ET
- Previously: Capital One Financial misses by $0.10, misses on revenue (July 21)
- COF flat after hours
Thu, Jul. 21, 4:09 PM
Wed, Jul. 20, 5:35 PM
Fri, Jul. 15, 10:10 AM
- Wells Fargo ticks off 20 S&P 500 stocks with the most upside potential vs. consensus, and the 20 with the most downside risk vs. consensus.
- The list is compiled by comparing the midpoint of Wells Fargo Securities valuation ranges to consensus fair value estimates, volatility adjusting the percentage difference, and ranking the resulting score.
- Upside: AEE, BEN, CCL, DVA, EIX, ES, EXC, FTR, HUM, INTC, JNJ, LNT, PEG, PNW, SCG, T, WEC, WU, XEL, XOM.
- Downside: ANTM, C, CI, COF, EQT, FOXA, FSLR, GS, KIM, LH, MON, MSI, MYL, NVDA, NWSA, SLG, TIF, TSO, UA, WLTW.
Fri, Jul. 8, 9:44 AM
- Capital One Financial (NYSE:COF) is up 4.1% after a D.A. Davidson upgrade to Buy, amid credit concerns that are "overdone" and an improving environment for card losses.
- The firm's Arren Cyganovich has a price target of $76 on shares, implying 18% upside from today's higher price.
- Unemployment that is the main driver of credit card losses "continues to be very benign as highlighted by weekly jobless claims," Cyganovich writes (and nonfarm payrolls pulled off a strong beat on jobs added this morning, with unemployment sitting at 4.9%).
- It's an extended positive cycle for credit cards, and delinquency data suggests seasonal improvements are likely from here.
- Capital One has managed card loan growth above peers at 12.9%, though it could slow to as much as 8% in 2017.
Tue, Jul. 5, 4:17 PM
- Interest rates continue to plummet, with U.S. government yields on the long end hitting new all-time lows. At least they remain positive (for now). Yields on French government paper are now negative all the way out to nine years, and Swiss 50-year bonds now sport yields below zero.
- Some hawkish words today from San Francisco Fed President Williams weren't enough to lift the share prices of yield-starved financials (XLF -1.5%).
- The SPDR KBW Bank ETF (KBE -3%), the SPDR KBW Regional Bank ETF (KRE -3%)
- Citigroup (C -3.3%), Morgan Stanley (MS -3.5%), Regions Financial (RF -3.9%), Fifth Third (FITB -4.2%), Capital One (COF -3.3%), Legg Mason (LM -3.3%), E*Trade (ETFC -3.2%), Schwab (SCHW -3%), MetLife (MET -4.2%), Prudential (PRU -3.2%), Lincoln (LNC -4.5%)
Wed, Jun. 29, 5:26 PM
- Capital One Financial's (NYSE:COF) CCAR is approved by the Fed. The company will keep its quarterly dividend unchanged at $0.40/share.
- In addition, the company has authorized the repurchase of up to $2.5B of the company's common stock beginning in the Q3'16 through the end of the Q2'17.
- Shares +1% AH.
Thu, Jun. 23, 4:51 PM
- Ally Financial (NYSE:ALLY): Actual end of 2015 CET1 ratio of 9.2%, Q1 2018 CET1 ratio under severely adverse scenario of 6.1%, minimum 6.1%.
- American Express (NYSE:AXP): Actual 12.4%, Q1 2018 12.3%, minimum 11.4%.
- Bank of America (NYSE:BAC): Actual 11.6%, Q1 2018 8.1%, minimum 8.1%.
- BNY Mellon (NYSE:BK): Actual 11.5%, Q1 2018 11.2%; minimum 10.5%.
- BB&T (NYSE:BBT): 10.3%, 6.9%, 6.9%
- BBVA Compass (NYSE:BBVA): 10.7%, 6.5%, 6.5%.
- BMO Financial (NYSE:BMO): 11.9%, 5.9%, 5.9%.
- Capital One (NYSE:COF): 11.1%, 8.2%, 8.2%.
- Citigroup (NYSE:C): 15.3%, 9.2%, 9.2%.
- Citizens Financial (NYSE:CFG): 11.7%, 8.8%, 8.8%.
- Comerica (NYSE:CMA): 10.5%, 8.3%, 8.3%.
- Discover (NYSE:DFS): 13.9%, 12.4%, 11.9%.
- Fifth Third (NASDAQ:FITB): 9.8%, 6.8%, 6.8%.
- Goldman Sachs (NYSE:GS): 13.6%, 10.2%, 8.4%.
- HSBC N.A. (NYSE:HSBC): 15.7%, 9.1%, 9.1%.
- Huntington Bancshares (NASDAQ:HBAN): 9.8%, 5%, 5%.
- JPMorgan (NYSE:JPM): 12%, 8.3%, 8.3%.
- KeyCorp (NYSE:KEY): 10.9%, 6.4%, 6.4%.
- M&T (NYSE:MTB): 11.1%, 6.9%, 6.9%.
- Morgan Stanley (NYSE:MS): 16.4%, 10%, 9.1%.
- Northern Trust (NASDAQ:NTRS): 10.8%, 9.6%, 9.6%.
- PNC Financial (NYSE:PNC): 10.6%, 7.6%, 7.6%.
- Regions (NYSE:RF): 10.9%, 7.3%, 7.3%.
- Santander Holdings (NYSE:SAN): 12%, 11.8%, 11.8%
- State Street (NYSE:STT): 13%, 9.6%, 9.6%
- SunTrust (NYSE:STI): 10%, 7.5%, 7.5%.
- TD Group (NYSE:TD): 13.1%, 8.4%, 8.4%.
- U.S. Bancorp (NYSE:USB): 9.6%, 7.5%, 7.5%.
- Wells Fargo (NYSE:WFC): 11.1%, 7.2%, 7.2%.
- Zions (NASDAQ:ZION): 12.2%, 6.6%, 6.6%.
- Previously: All 33 banks pass this year's stress tests (June 23)
Wed, Jun. 15, 8:35 AM
- Capital One's (NYSE:COF) May's net charge-off rate for domestic cards of 3.99% fell from 4.29% in April. The 30+ day performing delinquency rate of 3.01% rose from 2.96%.
- For auto loans, the net charge-off rate of 1.17% rose from 0.95%. The 30+ day performing delinquency rate of 5.48% rose from 4.99%.
- The company is presenting later this morning at a financial services conference, and listeners will be interested in hearing what the company has to see given Synchrony Financial's credit warning yesterday, which helped bring CapOne lower by more than 6%.
Tue, Jun. 14, 1:01 PM
Tue, Jun. 14, 12:20 PM
- In conjunction with CFO Brian Doubles' appearance at a conference this morning, the company said it expects a 20-30 basis point increase in net charge off rates over the next year.
- BTIG's Mark Palmer notes Doubles says Synchrony (SYF -14.3%) continues to see the credit environment as "benign," though management anticipates "softening" in customers' ability to pay off balances. Palmer also says credit metrics currently are at unusually low (good) levels, and "normalization" should be expected at this point in the cycle.
- There's also a positive catalyst on the horizon in the CCAR results, at which Palmer expects the initiation of buybacks and a dividend.
- He reiterates his Buy rating, with $42 price target (60% upside) based off of 12.5x 2018 estimated EPS of $3.33.
- Discover (DFS -3.1%), Capital One (COF -6%), American Express (AXP -3.9%), OneMain Holdings (OMF -7.3%), Santander Consumer (SC -5.5%), Ally Financial (ALLY -2.9%)