Leelyn Smith LLC Invests $301,000 in Capital One Financial

Leelyn Smith LLC has made a significant investment in Capital One Financial Corporation (NYSE: COF) during the second quarter of 2023. According to a recent disclosure with the Securities and Exchange Commission, the firm acquired 1,415 shares valued at approximately $301,000. This transaction highlights the growing interest from institutional investors in the financial services sector.

Several other institutional investors have also adjusted their holdings in Capital One Financial. Notably, Kingstone Capital Partners Texas LLC increased its stake by an astonishing 588,668.3%, now owning 117,447,497 shares worth $24.99 billion after acquiring an additional 117,427,549 shares. Other notable changes include Diamond Hill Capital Management Inc., which bought a new position in the first quarter valued at around $381.85 million, and UBS Asset Management, which raised its stake by 45.1%, bringing its total ownership to 4,677,128 shares valued at approximately $838.61 million.

In addition, Bank of New York Mellon Corp has increased its holdings in Capital One Financial by 23.7%, now owning 4,961,063 shares worth $889.52 million. Nuveen LLC also entered a new position worth about $141.60 million. Overall, institutional investors and hedge funds own 89.84% of Capital One’s stock, underscoring substantial confidence in the company.

Recent Insider Transactions

In related news, insider trading activity has been notable at Capital One. Timothy P. Golden, the Chief Accounting Officer, sold 3,462 shares on August 12, 2023, at an average price of $210.28, yielding a total of $727,989.36. Following this transaction, Golden holds 8,987 shares valued at approximately $1.89 million, reflecting a 27.81% decrease in his position.

Another insider, Michael Zamsky, sold 5,515 shares on August 4, 2023, at an average price of $209.59, totaling $1,155,888.85. After this sale, Zamsky’s ownership stands at 27,364 shares, valued at about $5.74 million, indicating a 16.77% decline in his holdings. Over the last three months, insiders have sold a total of 13,184 shares valued at approximately $2.8 million, with corporate insiders currently owning 1.26% of the stock.

Capital One Financial’s Strong Quarterly Performance

On October 21, 2023, Capital One Financial reported its quarterly earnings, showcasing a robust performance. The company announced earnings per share of $5.95, surpassing analysts’ expectations of $4.25 by $1.70. The firm generated revenue of $15.36 billion, exceeding the consensus estimate of $15.06 billion. Additionally, Capital One demonstrated a return on equity of 10.94% and a net margin of 2.24%, with quarterly revenue reflecting a remarkable year-over-year increase of 53.4% from $4.51 earnings per share in the same quarter the previous year.

Analysts predict that Capital One Financial will report earnings per share of $15.65 for the current fiscal year, indicating continued growth prospects.

The company also announced a quarterly dividend of $0.60, paid on September 2, 2023, to shareholders of record on August 15, 2023. This dividend translates to an annualized amount of $2.40 and represents a yield of 1.1%. Notably, the payout ratio currently stands at 101.27%, suggesting a commitment to returning value to shareholders.

Equities analysts have expressed a positive outlook for Capital One Financial, with various firms issuing upgrades and price target adjustments. Rothschild & Co Redburn initiated coverage with a “buy” rating and a price target of $290.00. Keefe, Bruyette & Woods raised its target from $248.00 to $260.00, while Wells Fargo & Company increased its target to $265.00. Morgan Stanley also raised its price target to $272.00, reinforcing the optimistic sentiment.

Currently, three analysts have rated Capital One Financial as a Strong Buy, while fifteen have given it a Buy rating and six have issued a Hold rating. According to data from MarketBeat.com, the company holds a consensus rating of “Moderate Buy” with a price target of $260.79, reflecting strong investor confidence in its future performance.

For those interested in tracking the latest developments regarding Capital One Financial, additional insights and reports can be found on financial news platforms and investment tracking websites.