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Capital One Financial Corporation (COF)

  • Jul. 3, 2013, 7:16 AM
    Capital One's (COF) price target is upped to $76 from $68 at CLSA following the board's approval of a $1B buyback. The amount isn't materially higher than market expectations, but the fact that it is higher certainly signals management intent to return as much capital as possible to investors. The stock mostly cruised through June's market selloff and is at its highest since fall 2007.
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  • Jul. 2, 2013, 7:37 AM
    Capital One (COF) announces a $1B share repurchase program, subject to the closing of the sale of its Best Buy private label credit card portfolio. The Fed has green-lighted the buyback, contingent on the Best Buy sale. CapOne expects settlement in Q3. (PR)
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  • Jul. 1, 2013, 11:55 AM
    The proposed doubling of bank (XLF) minimum leverage ratios to 6% isn't a big deal, says Credit Suisse, noting COF, WFC, PNC, and UBS are already above that level. The three with the lowest current levels (4.6% to 5.1%) - C, JPM, BAC - wouldn't have an issue getting to 6% if necessary. CS also notes the likelihood it won't be 6%, but instead a number well underneath.
  • Jun. 26, 2013, 7:57 AM
    Capital One (COF) rolls out the QuickSliver card designed to allow customers to earn and redeem cash back awards without restrictions typically found in other cards. "A flat rate of 1.5% earn rate on all purchases ... is a very compelling value proposition," says the company's Ben Woolsey. (PR)
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  • Jun. 17, 2013, 3:46 PM
    More on the Capital One (COF +1.5%) downgrade: Contending with tough capital rules and new consumer protections for credit cards, the company has shifted to a defensive posture, says Dick Bove, citing CFO Steve Crawford's talk at the Morgan Stanley conference last week. "What we got last week was a picture of a company that's going through a transformation and generally stocks don't do well when companies are going through periods of transformation."
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  • Jun. 17, 2013, 12:18 PM
    Capital One (COF +0.8%) is downgraded from Buy to Hold with $63 price target at Rafferty Capital. Rafferty? That's Dick Bove's new shop.
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  • Jun. 12, 2013, 1:20 PM
    With industry growth weak and credit cards being used more and more as cash equivalents, Capital One (COF) is attempting a rotation out of the high balance revolver business and into building market share in the transactor business, says new CFO Steve Crawford at the Morgan Stanley conference (transcript) (presentation). Near-term, it could mean a hit to income due to the higher marketing costs necessary, but over an entire cycle the transactor business should prove more profitable and resilient.
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  • May. 30, 2013, 11:14 AM
    Discover (DFS) is reiterated as top-pick among credit-card issuers at Credit Suisse, the analysts noting American Express (AXP) - used to having the field of highest-spending customers to itself - faces stiffer competition. Capital One (COF) is continued at Hold, the team seeing the need for increased marketing as quashing the idea of more cost-cutting.
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  • May. 17, 2013, 10:54 AM
    Capital One (COF +1.8%) is presumably about to save some money on loan servicing, commencing an exchange offer for all of its senior notes maturing in 2017 for a combination of new notes maturing in 2023 and cash. (PR)
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  • May. 15, 2013, 6:03 PM
    Third Point discloses new positions in: Anadarko Petroleum (APC), BE Aerospace (BEAV), Cabot Oil (COG), Chimera Investment (CIM), Hess (HES), Hilshire Brands (HSH), Tiffany (TIF), Thermo Fisher (TMO), and Virgin Media (MMED). It raises stakes in: AbbVie (ABBV) and International Paper (IP), and exits Abbott Labs (ABT), Capital One (COF), Coca-Cola Enterprises (CCE), Herbalife (HLF), Illumina (ILMN), MetLife (MET), Morgan Stanley (MS) and Tesoro (TSO). (13-F)
  • May. 4, 2013, 3:52 PM
    Barron's is out with its list of the 500 financially strongest companies as ranked after a rigorous cash and sales analysis. A quick filter on the list shows a good chunk of the names trade with a single-digit price to earnings ratio including Goodyear Tire & Rubber (GT). Despite all the buzz about booming auto sales in the U.S. and China, concerns about growth for Goodyear's products in other regions of the globe have lowered expectations. But with auto sale estimates for full-year being taken higher, Goodyear could see enough consistent revenue growth to justify a higher trading multiple. (Top 25: AAPL, WCC, WDC, DVA, CHRW, QCOM, JOY, V, STX, MRC, MA, CVI, COF, SYMC, MCK, WCG, ETN, BRCM, TMO, CI, CBI, NOV, WNR, HFC, DK)
  • May. 3, 2013, 9:01 AM
    Capital One Financial (COF) bumps its quarterly dividend from $0.05/share to $0.30/share, representing an annual yield of 2.06%. (PR)
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  • May. 3, 2013, 7:36 AM
    As tipped following the passing of the Fed's stress test in March, Capital One's (COF) board approves a $0.25 increase in the quarterly dividend to $0.30/share. The annualized yield is now 2.06%. (PR)
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  • Apr. 24, 2013, 2:48 PM
    Capital One (COF) agrees to pay $3.5M to settle SEC charges the company and two senior executives understated millions in auto loan losses in 2007. As is usual in these cases, the bank and execs neither admitted nor denied the findings.
  • Apr. 19, 2013, 10:16 AM
    Capital One (COF) rises 5.3% following its earnings beat last night. Perhaps exciting investors is management's plan (CC transcript) to aggressively increase share repurchases in 2014, bringing its payout ratio well above industry norms of about 50%. "We expect significant planned runoff to continue through 2014 ... purchasing our own stock is a particularly compelling alternative at the current time."
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  • Apr. 18, 2013, 4:30 PM
    More on Capital One (COF) Q1 earnings: Backing out the $809M bargain purchase gain related to ING, EPS of $1.56 missed by $0.06. Revenue of $5.6B, off 1% Y/Y. Noninterest expense of $3B, off 7% Y/Y - marketing expense of $317M, off 19.3%. Provision for credit loss of $885M, off 23% - "better than anticipated credit performance." Domestic card charge-off rate of 4.3%, delinquency rate of 3.4%. Net interest margin of 6.71%, up 19 bps from Q4. Earnings call at 5 ET (slides). Shares +0.6% AH. (PR)
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Company Description
Capital One Financial Corp is a financial services holding company. The Company with its banking and non-banking subsidiaries markets financial products and services.
Sector: Financial
Industry: Credit Services
Country: United States