Capital One Sees Higher Profits; Misses Estimates (COF)
Financial services company, Capital One Financial Corp.(COF) reported an increase in profits for Q4, but missed analysts estimates on Friday.
The Mclean, VA based company reported fourth quarter earnings of $843 million, or $1.41 a share, up 51% from $407 million, or 88 cents last year. Analysts expected to see earnings of $1.59 per share.
Revenue was reported at $5.62 billion,up from $4.05 billion last year. Analysts expected revenue of $5.80 billion.
The company’s CEO Richard Fairbank announced that investors should expect to see an increase in the company’s dividend this year. COF still needs to gain approval from the Federal revenue to make this increase.
Capital One shares were down -$4.11, or -6.67% during premarket trading Friday. The stock has increased 26% in the past year.
The Bottom Line
Shares of Capital One Financial (COF) have a .32% dividend yield, based on last night’s closing stock price of $61.59. The stock has technical support in the $54-$56 price area. If the shares can firm up, we see overhead resistance around the $60-$63 price levels.
Capital One Financial Corp.(COF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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