Capital One misses 2Q earnings and revenue expectations

Capital One Financial Corp., the bank that gets more than half of its revenue from credit cards, reported profit that missed analysts’ estimates as the lender set aside $1.1 billion to cover credit losses.

For the second quarter, Capital One reported a profit of $863 million, down from $1.2 billion a year earlier.

In terms of earnings, Capital One Financial Corporation is expected to announce earnings of $2.01 when the company next releases their earnings report on 2015-10-15. Bernstein increased their price target on Capital One Financial Corp from $82.27 to $100.

Zacks Research has given Capital One Financial Corporation (NYSE:COF) a top value style score. (NYSE:COF) opened at 91.65 on Thursday. After the session commenced at $91.62, the stock reached the higher end at $92.1 while it hit a low of $91.28. The stock presently has an average rating of “Buy” and an average price target of $93.33. The company has a market cap of $50.46 billion and a price-to-earnings ratio of 12.02. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Nine analysts surveyed by Zacks expected $5.76 billion.

The average broker recommendation is arithmetical average of the individual ratings contributed by sell-side analysts to produce a Consensus Analyst Rating for each stock.

In looking at the long term growth prospects of the company, sell-side analysts have a consensus mean earnings per share estimate for the current year of $7.72. Following the completion of the sale, the insider now directly owns 40,438 shares of the company’s stock, valued at approximately $3,696,841.96. The total value of the transaction was worth $5,085,900. (NYSE:COF) insider Robert M. Alexander sold 14,212 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Earnings, adjusted for one-time gains and costs, were $1.78 per share. The disclosure for this sale can be found here. The Bank, through its subsidiaries, offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients both domestically and internationally. On February 17, 2012, the Company acquired ING Direct business in the United States (ING Direct) from ING Groep N.V., ING Bank N.V., ING Direct N.V. and ING Direct Bancorp. The Company’s principal subsidiaries include the following: Capital One Bank (NYSE:COF), National Association (COBNA), which offers credit and debit card products, other lending products and deposit products, and Capital One, National Association (CONA), which offers a range of banking products and financial services to consumers, small businesses and commercial clients.