Welcome to our dedicated page for Capital One Financial news (Ticker: COF), a resource for investors and traders seeking the latest updates and insights on Capital One Financial stock.
Capital One Financial Corporation (NYSE: COF), founded in 1994, is a diversified banking company headquartered in McLean, Virginia. Originally a spinoff of Signet Financial's credit card division, Capital One has grown into a major player in the financial services industry, offering a wide array of financial products and services. The company's core business segments include local banking and national lending. Local banking comprises consumer, small business, and commercial deposits and lending conducted through its extensive branch network.
On the national front, Capital One is prominent in three key areas: U.S. card issuance, auto finance, and global financial services. The U.S. card sub-segment encompasses domestic consumer credit and debit card activities, making Capital One a leading issuer in the credit card market. The auto finance sub-segment involves financing for automobiles and other motor vehicles, while the global financial services sub-segment includes international lending, small business lending, installment loans, home loans, and healthcare financing.
Recent achievements highlight the company's robust financial health and forward-looking strategies. In the second quarter of 2023, Capital One reported a net income of $1.4 billion, showing significant growth compared to the previous quarter. This upward trend continued into the third quarter of 2023, with a reported net income of $1.8 billion. The company attributes its success to strong top-line growth in its domestic card business and advancements in technology that drive performance improvements across its operations.
Capital One is also making headlines with its strategic moves, such as the acquisition of Discover Financial Services in a $35.3 billion all-stock transaction, announced in February 2024. This acquisition is expected to bolster Capital One's position in the payments and banking sectors, creating a more competitive and innovative financial services provider.
Despite the end of its partnership with Walmart for the exclusive issuance of Walmart Consumer Credit Cards in May 2024, Capital One continues to manage and service the existing credit card accounts, ensuring minimal disruption for cardholders. The company's financial strength is evident with $351.0 billion in deposits and $481.7 billion in total assets as of March 31, 2024.
Capital One remains committed to leveraging modern technology to enhance its service offerings and customer experience. The company's innovative approach and strategic acquisitions are set to drive its growth and enhance value for shareholders, consumers, and businesses alike.
Capital One Financial Corporation (NYSE: COF) announced a quarterly dividend of $0.60 per share, payable on November 26, 2021, to stockholders of record as of November 15, 2021. The company has consistently declared dividends since its separation in 1995. Additionally, dividends on various preferred stocks were also declared, including $13.00 for Series G, $15.00 for Series H, $12.50 for Series I, $12.00 for Series J, and more, all payable on December 1, 2021. These dividends demonstrate Capital One's ongoing financial health.
Capital One Financial Corporation (NYSE: COF) reported a net income of $3.1 billion or $6.78 per diluted share for Q3 2021, down from $3.5 billion in Q2 2021. This is an increase from $2.4 billion in Q3 2020. Total net revenue grew 6% to $7.8 billion, while non-interest expenses also rose 6% to $4.2 billion. Credit losses reflected a benefit of $342 million. The company reported a Common equity Tier 1 capital ratio of 13.8% at the end of September 2021. A conference call is scheduled for October 26, 2021.
Capital One Financial Corporation (NYSE: COF) announced plans to redeem all outstanding shares of its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series G and Series H, on December 1, 2021. About 24 million Series G Depositary Shares and 20 million Series H Depositary Shares will be redeemed at a price of $25 per share, totaling $1,000 per preferred share. Dividends on these shares will cease after the redemption date. The company emphasizes that the redemption will not include any accrued dividends.
Capital One Financial Corporation (NYSE: COF) will disclose its third quarter 2021 earnings results on October 26, 2021, at 4:05 p.m. Eastern Time. A conference call to discuss these results will follow at 5:00 p.m. Eastern Time. The earnings release will be accessible on the company's website, and a replay of the call will be available starting two hours post-call until November 9, 2021.
As of June 30, 2021, Capital One reported $306.3 billion in deposits and $423.4 billion in total assets.
On August 17, 2021, Capital One introduced the SavorOne Rewards for Students and Quicksilver Rewards for Students credit cards, tailored for students beginning their credit journey. The SavorOne card offers unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery purchases, along with 1% on all other spending. The Quicksilver card provides 1.5% cash back on every purchase. Both cards feature no annual fees, no cash back limits, and no expiration on rewards, enhancing accessibility and choice for student consumers.
Capital One Financial Corporation (NYSE: COF) has announced the full redemption of its one million outstanding shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E. The shares will be redeemed at a price of $1,000 each on September 1, 2021, with regular dividends of $10.05516556 per share to be paid to holders of record by August 16, 2021. The redemption will be executed by Computershare Trust Company, N.A., and dividends will cease to accrue after the redemption date. The move reflects Capital One's ongoing financial strategies and management of its capital structure.
Capital One Financial Corporation (NYSE: COF) announced a one-time special dividend of $0.60 and a quarterly dividend of $0.60 per share, payable on August 20, 2021, to stockholders of record as of August 9, 2021. The company has paid dividends quarterly since becoming independent in February 1995. Additional quarterly dividends were declared for its preferred stocks, including Series E, G, H, I, J, K, L, and M, all payable on September 1, 2021, with respective amounts ranging from $8.8875 to $15.00 per share.
Capital One Financial Corporation (NYSE: COF) reported a net income of $3.5 billion, or $7.62 per diluted share, for Q2 2021, up from $3.3 billion in Q1 2021. The company had a significant turnaround from a net loss of $918 million in Q2 2020. Total net revenue rose 4% to $7.4 billion, while total non-interest expenses increased by 6% to $4.0 billion. Credit loss provisions decreased by $337 million, reflecting a net charge-off of $541 million. The Common Equity Tier 1 capital ratio stands at 14.5%, and period-end loans held for investment climbed to $249.6 billion.
Capital One Financial Corporation (NYSE: COF) announced its Stress Capital Buffer Requirement (SCB) is set at 2.5%, effective October 1, 2021. This is a decrease from the previously disclosed SCB of 5.6%, which will remain in effect for the third quarter of 2021. This adjustment follows the 2021 Comprehensive Capital Analysis and Review (CCAR) process conducted by the Federal Reserve. Capital One reported $310.3 billion in deposits and $425.2 billion in total assets as of March 31, 2021.
Capital One Financial Corporation (NYSE: COF) will report its second quarter 2021 earnings on July 22, 2021, at approximately 4:05 p.m. Eastern Time. Following the earnings release, a conference call will be held at 5:00 p.m. Eastern Time to discuss financial and operating performance for the quarter ending June 30, 2021. The call will be available via webcast and a replay will be accessible for 24 hours following the event. As of March 31, 2021, Capital One had $310.3 billion in deposits and $425.2 billion in total assets.
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