Capital One Financial Stock Price, News & Analysis

Capital One Financial Corporation (NYSE: COF) declared a quarterly dividend of $0.10 per share, payable on November 19, 2020, to stockholders of record as of November 9, 2020. The company has consistently issued dividends since its independence in 1995. Other dividends announced include payments on preferred stocks, with rates from $9.51 to $15.50 per share, scheduled for December 1, 2020, for stockholders of record by November 16, 2020.

Capital One Financial Corporation (NYSE: COF) reported a strong third quarter in 2020, achieving a net income of $2.4 billion, or $5.06 per diluted share, a significant turnaround from a net loss of $918 million in Q2 2020. Total net revenue rose 13% to $7.4 billion, while non-interest expenses decreased by 6% to $3.5 billion. The company saw a dramatic 92% reduction in credit loss provisions to $331 million. Notably, equity investment gains significantly contributed to profits, alongside successful reserve releases related to loans. Analysts view the results as a positive indicator of resilience amid economic challenges.

Capital One enhances its Journey Student Credit Card, now offering new benefits tailored for college students. Cardholders can earn up to $60 in streaming service credits alongside 1% cash back on all purchases. The initiatives aim to address financial challenges faced by students during the pandemic, with a survey revealing that 66% feel unprepared for financial independence, and 74% express concerns over personal growth due to COVID-19. Additional features include contactless payments and tools for managing finances effectively.

Capital One announced the launch of the Capital One Impact Initiative, a $200 million, five-year commitment aimed at improving socioeconomic mobility in underserved communities. The initiative focuses on racial equity, affordable housing, small business support, workforce development, and financial well-being. This initiative follows a previous $10 million commitment to social justice for Black communities and a $50 million effort to mitigate COVID-19 economic impacts. Capital One has provided nearly $29 billion in community development loans since 2016, reinforcing its commitment to supporting low- and moderate-income individuals.

Capital One Financial Corporation (NYSE: COF) announced pricing and results of its cash tender offer for securities issued by Cabela's Credit Card Master Note Trust. The offer expired on September 25, 2020, and included securities with an aggregate outstanding amount of $327,250,000. About $307,875,000 was validly tendered. The purchase price per $1,000 of securities accepted is $1,055.07, calculated based on the Interpolated Swap Rate and fixed spread. The Offeror plans to retire and cancel the acquired securities.

Capital One Financial Corporation (NYSE: COF) will announce its third quarter 2020 earnings results on October 22, 2020, at 4:05 p.m. ET. A conference call to discuss the financial and operational performance for the quarter ending September 30, 2020 will follow at 5:00 p.m. ET. The earnings release will be accessible on Capital One's homepage, with a replay of the webcast available for 24 hours following the call. As of June 30, 2020, the company reported $304.2 billion in deposits and $421.3 billion in total assets.

On September 21, 2020, Capital One Financial Corporation (NYSE: COF) announced a cash tender offer to purchase up to $327.25 million of securities issued by Cabela's Credit Card Master Note Trust. This offer is set to expire on September 25, 2020, with a settlement date of October 1, 2020. A minimum of $294.53 million of the securities must be tendered for the offer to proceed. The purchase price will be determined based on the Interpolated Swap Rate plus a fixed spread. Capital One aims to retire the securities acquired in this transaction.

Capital One Financial Corporation (NYSE: COF) declared a quarterly dividend of $0.10 per share, payable on August 20, 2020, to stockholders of record as of August 10, 2020. The company also announced dividends on its preferred stocks, including $10.6056 for Series E and $15.50 for Series F, both payable on September 1, 2020. Capital One has consistently declared dividends quarterly since its independence on February 28, 1995.

Capital One Financial Corporation (NYSE: COF) reported a net loss of $918 million for Q2 2020, translating to $2.21 per diluted share, a significant improvement compared to a $1.3 billion loss in Q1 2020. Total net revenue dropped by 10% to $6.6 billion, while total non-interest expenses rose by 1% to $3.8 billion. Provision for credit losses decreased by 22% to $4.2 billion. Despite a challenging environment, the company positioned itself to adapt through digital investments. Period-end deposits increased by 13% to $304.2 billion, indicating strong consumer trust.