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

Leelyn Smith LLC has made a significant investment in Capital One Financial Corporation (NYSE: COF) during the second quarter of 2023, as disclosed in a recent filing with the Securities and Exchange Commission. The firm acquired 1,415 shares of Capital One, amounting to approximately $301,000 in value. This move highlights an ongoing interest in the financial services sector among institutional investors.

Several other investors have also adjusted their holdings in Capital One Financial recently. Notably, Kingstone Capital Partners Texas LLC increased its stake by an astounding 588,668.3%, now owning 117,447,497 shares valued at roughly $24.99 billion. This dramatic increase followed the purchase of an additional 117,427,549 shares during the same quarter.

In addition, Diamond Hill Capital Management Inc. entered the scene with a new investment in the first quarter, valued at approximately $381.8 million. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC also expanded its holdings by 45.1%, acquiring 1,454,595 additional shares, bringing its total ownership to 4,677,128 shares worth about $838.6 million. Similarly, Bank of New York Mellon Corp increased its stake by 23.7%, now holding 4,961,063 shares valued at $889.5 million. Overall, institutional investors and hedge funds now own 89.84% of Capital One’s stock.

Insider Transactions and Recent Performance

In related news, insider trading activity has also been notable. On August 12, 2023, Chief Accounting Officer Timothy P. Golden sold 3,462 shares at an average price of $210.28, totaling approximately $727,989.36. Following this transaction, Golden’s remaining shares are valued at about $1.89 million, representing a 27.81% decrease in his position.

Another insider, Michael Zamsky, sold 5,515 shares on August 4, 2023, fetching an average price of $209.59 for a total of $1.16 million. After this sale, Zamsky retains 27,364 shares valued at approximately $5.73 million, marking a 16.77% decrease in ownership. In the past three months, insiders have sold a total of 13,184 shares valued at around $2.8 million, with corporate insiders now owning 1.26% of the company’s stock.

As for Capital One Financial’s recent performance, the company reported its quarterly earnings on October 21, 2023. The results showcased earnings per share of $5.95, significantly surpassing analysts’ expectations of $4.25. The firm generated revenue of $15.36 billion for the quarter, exceeding the consensus estimate of $15.06 billion. Year-over-year, Capital One’s revenue increased by 53.4%, while the company reported a return on equity of 10.94% and a net margin of 2.24%.

Dividends and Analyst Ratings

In addition to its earnings report, Capital One Financial announced a quarterly dividend of $0.60, which was distributed on September 2, 2023, to shareholders on record as of August 15, 2023. This dividend translates to an annualized amount of $2.40, yielding approximately 1.1%. The company’s payout ratio currently stands at 101.27%.

Analysts have expressed a positive outlook for Capital One’s stock. Rothschild & Co Redburn recently initiated coverage with a “buy” rating and a price target of $290.00. Other firms have also increased their price targets; Keefe, Bruyette & Woods raised theirs from $248.00 to $260.00, while Wells Fargo & Company set their target at $265.00. Overall, three analysts rate the stock as a Strong Buy, fifteen recommend a Buy, and six suggest holding.

With these developments, Capital One Financial Corporation continues to capture the attention of investors and analysts alike, reflecting its robust performance and strategic positioning within the financial sector.