Capital One Financial - COF STOCK NEWS

Capital One has announced a multi-year partnership with Major League Baseball (MLB) as its Official Bank and Credit Card Partner, along with being the presenting sponsor of the World Series. This deal provides Capital One cardholders exclusive access to events, including MLB games and discounts on MLB merchandise. Starting March 29, rewards cardholders can redeem points for tickets to all MLB teams. Additionally, Capital One will donate $1,000 to the Jackie Robinson Foundation for each game-winning play during the season, committing at least $250,000 in total donations.

Kohl's (NYSE: KSS) and Capital One (NYSE: COF) have announced a multi-year extension of their credit card program agreement, marking the second extension since 2014. This partnership aims to enhance customer experience through expanded buying power and exclusive offers via the Kohl's Card. The agreement includes plans to introduce a co-branded card product as early as 2023. Capital One's SVP emphasized the significant value delivered to customers through shared innovation and growth. Kohl's is also set to enhance rewards for Kohl's Card holders, offering 7.5% back for Rewards members.

On March 9, 2022, Capital One released its 2022 Car Buying Outlook, highlighting a shift in car-buying behavior influenced by the pandemic. Key findings indicate that 75% of car buyers prefer a hybrid approach of online and in-person interactions. Notably, 39% plan to visit three or more dealerships for their next purchase. Dealers are rapidly digitizing, with 87% prioritizing innovation. However, while 77% of dealers perceive the process as transparent, only 26% of buyers agree, reflecting concerns around recent economic challenges. The report underscores the evolving landscape of automotive retail.

On March 7, 2022, Capital One Insights Center released research highlighting the widening economic gap between lower and higher earners as a result of the COVID-19 pandemic and rising inflation. The ongoing Marketplace Index survey shows that financial health among Americans has deteriorated, particularly for lower earners, with 47% reporting negative impacts on their mental health. Despite some income increases across broader income groups, 43% of Americans still believe their financial health is at early pandemic levels, indicating significant economic challenges ahead.

Wayfair (NYSE: W) has partnered with Capital One (NYSE: COF) to launch a new credit management platform for its Wayfair Professional members. This program will feature the Wayfair Professional Credit Card and the Wayfair Professional Flex Account, enhancing purchasing power and payment flexibility. The initiative aims to simplify the credit application process for business customers and is expected to roll out later this year. Wayfair's strategy targets growth in its business-to-business segment, building on its existing e-commerce leadership.

The Delaware Congressional Delegation, Delaware State University, and Capital One unveiled the Delaware State University Riverfront, a $4.7MM facility donated to enhance educational opportunities. Slated to open in spring, the facility will house the University's School of Graduate, Adult, and Extended Studies and support minority-owned businesses. Additionally, Capital One announced a mentorship program and $270K in grants for career services aimed at fostering student success. The partnership aims to strengthen public-private collaborations and advance socioeconomic mobility.

On February 4, 2022, Capital One Financial Corporation (NYSE: COF) declared a quarterly dividend of $0.60 per share, payable on February 25, 2022. Stockholders of record as of February 14, 2022 will receive this dividend. This announcement marks the continuation of regular dividend payments since the company's independence in 1995. Additionally, multiple preferred stock dividends were announced, including $12.50 for Series I and $12.00 for Series J, both payable on March 1, 2022. Each preferred stock dividend is subject to record dates of February 14, 2022.

Capital One Financial Corporation (NYSE: COF) announced a fourth-quarter 2021 net income of $2.4 billion, or $5.41 per diluted share, down from $3.1 billion in Q3 2021. Total net revenue rose 4% to $8.1 billion, while non-interest expenses surged 12% to $4.7 billion, driven by a 33% marketing cost increase. The provision for credit losses rose to $381 million. Notably, loans held for investment increased by 6% to $277.3 billion. The common equity Tier 1 capital ratio stood at 13.1%. For 2021, total net revenue climbed 7% to $30.4 billion.

Capital One Financial Corporation (NYSE: COF) will release its fourth quarter 2021 earnings results on January 25, 2022, at approximately 4:05 p.m. Eastern Time. A conference call is scheduled for 5:00 p.m. ET to discuss the company's financial performance for the quarter ending December 31, 2021. Investors can access the earnings release and the live webcast on the company's website. A replay will be available shortly after the call until February 8, 2022.