Capital One Financial Stock Price, News & Analysis

Uber Technologies and Capital One have announced a partnership aimed at providing exclusive benefits to select cardholders in the U.S. From now on, holders of Savor, SavorOne, SavorOne Student, and Quicksilver Student credit cards will earn 10% cash back on Uber purchases and receive up to 24 months of complimentary Uber One membership. This membership offers various perks, including $0 delivery fees and savings on Uber Eats and rides. The partnership is set to enhance customer rewards and engagement, with benefits available until November 14, 2024.

Capital One Financial Corporation (NYSE: COF) has declared a quarterly dividend of $0.60 per share, payable on November 25, 2022, to stockholders of record by November 14, 2022. This marks the company's continued commitment to return value to shareholders since becoming independent in 1995.

Additionally, Capital One announced dividends for its preferred stocks, including $12.50 for Series I and $12.00 for Series J, both payable on December 1, 2022. Each preferred dividend is contingent upon stockholder records closing on November 16, 2022.

Capital One Financial Corporation (NYSE: COF) reported a net income of $1.7 billion, or $4.20 per diluted share, for Q3 2022, a decline from $2.0 billion in Q2 2022 and $3.1 billion in Q3 2021. Total net revenue rose by 7% to $8.8 billion, while non-interest expenses increased by 8% to $4.9 billion. The provision for credit losses rose by $584 million to $1.7 billion, with net charge-offs at $931 million. loans held for investment increased by 3% to $303.9 billion. Overall, the company maintains strong market positioning with a net interest margin of 6.80% and a Tier 1 capital ratio of 12.2%.

BJ's Wholesale Club and Capital One Financial have entered a strategic agreement, making Capital One the exclusive issuing partner for BJ's Mastercard program, set to launch in early 2023. This agreement includes the acquisition of BJ's existing credit card accounts. BJ's aims to enhance member value through improved customer service and digital offerings, leveraging Mastercard's extensive network. Capital One's proven track record in delivering superior payment products positions the partnership to accelerate BJ's growth and enhance customer loyalty.

Capital One Financial Corporation (NYSE: COF) will release its third-quarter 2022 earnings results on October 27, 2022, at 4:05 p.m. ET. A conference call to discuss the financial and operational performance for the quarter ending September 30, 2022 will follow at 5:00 p.m. ET. The earnings release will be available on Capital One's homepage. The company had $307.9 billion in deposits and $440.3 billion in total assets as of June 30, 2022.

On August 8, 2022, REI Co-op and Capital One announced their partnership, launching the REI Co-op® Mastercard® program. This card aims to enhance rewards for outdoor enthusiasts, offering benefits such as 5% back on REI purchases and 1.5% back on other purchases, with no annual fees. New cardholders can earn a $100 REI gift card after their first purchase and a $50 annual credit for booking REI experiences. The card supports sustainability with materials made of 85% recycled content and also includes contributions to the REI Cooperative Action Fund.

Capital One Financial Corporation (NYSE: COF) has declared a quarterly dividend of $0.60 per share, payable on August 19, 2022, to stockholders of record as of August 8, 2022. This marks the company’s consistent dividend issuance since becoming independent in 1995. Additionally, various preferred stock dividends were declared, including $12.50 for Series I, $12.00 for Series J, $11.5625 for Series K, $10.9375 for Series L, $9.875 for Series M, and $10.625 for Series N, all payable on September 1, 2022, to stockholders of record at the close of business on August 17, 2022.

Capital One Financial Corporation (NYSE: COF) reported a net income of $2.0 billion for Q2 2022, or $4.96 per diluted share, down from $2.4 billion in Q1 2022 and $3.5 billion in Q2 2021. Total net revenue grew 1% to $8.2 billion, while non-interest expenses also rose by 1% to $4.6 billion. Provision for credit losses increased by $408 million to $1.1 billion, influenced by net charge-offs of $845 million and a $200 million loan reserve build. Total loans grew by $15.9 billion (6%) to $296.4 billion, while total deposits dropped by $5.5 billion (2%) to $307.9 billion.

Capital One Financial Corporation (NYSE: COF) announced a new Stress Capital Buffer (SCB) requirement of 3.1%, effective October 1, 2022, a rise from the previous 2.5%. This SCB was determined through the 2022 Comprehensive Capital Analysis and Review (CCAR) process conducted by the Federal Reserve. The SCB reflects the bank's capital resilience against severely adverse economic scenarios. For details, investors can view the stress test summary available on Capital One's website.