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Fly News Breaks for May 14, 2019
COF
May 14, 2019 | 07:33 EDT
Jefferies analyst John Hecht upgraded Capital One Financial to Buy from Hold and raised his price target for the shares to $115 from $95. The analyst expects the stock to benefit from "bigger payouts and improving efficiencies." Capital One's digital bank is "meaningfully" ahead of peers, which should accrue "meaningfully" to shareholders within three-to-five years, Hecht tells investors in a research note. The company's digital bank initiative will enable operating efficiencies that should provide a platform for earnings growth, adds the analyst. Further, he sees Capital One improving its payout ratio, providing more return to shareholders, as well as an attractive valuation at current share levels.
News For COF From the Last 2 Days
COF
Mar 28, 2024 | 12:56 EDT
Bearish flow noted in Capital One with 6,831 puts trading, or 3x expected. Most active are Sep-24 145 puts and Apr-24 143 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.79, while ATM IV is up over 1 point on the day. Earnings are expected on April 25th.
COF
Mar 28, 2024 | 06:11 EDT
In a regulatory filing on Wednesday, Discover (DFS) announced that its board accepted the resignation of Michael G. Rhodes from his positions as CEO and President of the company, a member of the board and a director and officer of Discover Bank, each effective April 1. Rhodes, who was not expected to have a long-term role at the combined company after completion of the company's merger with Capital One (COF), informed the board that he has accepted a job offer at another financial institution. Also on Wednesday, Ally Financial (ALLY) announced that Rhodes will be its new CEO, starting at the company on April 29.