ADVFN - Advanced Financial Network.
HOME» NYSE » C » COF Stock Price » COF Stock News

Capital One Share News

 Capital One Financial Corp Stock Price
COF Stock Price
 Capital One Financial Corp Stock Chart
COF Stock Chart
 Capital One Financial Corp Stock News
COF Stock News
 Capital One Financial Corp Company Information
COF Company Information
 Capital One Financial Corp Stock Trades
COF Stock Trades

Capital One 1Q Net Up 38% On Bargain Purchase Gain

DOW JONES NEWSWIRES Capital One Financial Corp.'s (COF) first-quarter profit rose 38% as an acquisition-related bargain purchase gain boosted the bank's bottom-line results and net charge-offs improved. The company, which transformed itself from a credit-card lender to a bank just before the financial crisis hit, has benefited along with many of its peers in recent months as credit-loss provisions declined and delinquency rates eased. A stronger portfolio helped drive Capital One's profits higher earlier in 2011, though the credit improvements have showed some signs of slowing in recent months. Capital One is buying HSBC Holdings PLC's (HBC, 0005.HK, HSBA.LN) U.S. credit-card operations, which includes about $30 billion in loans, for $2.6 billion. The deal would make Capital One the third-largest issuer of private-label credit cards. The company last month unveiled plans to offer $1.25 billion of its common stock to help fund the HSBC acquisition. In February, Capital One completed its acquisition of ING Direct USA from ING Groep NV (ING, INGA.AE) in a deal valued at $9 billion. For the latest quarter, Capital One posted a profit of $1.4 billion, or $2.72 a share, up from $1.02 billion, or $2.21 a share, a year earlier. Excluding the impact of a bargain purchase gain related to the ING Direct acquisition, earnings were $1.56 a share in the latest period. Total revenue increased 21% to $4.94 billion. Analysts polled by Thomson Reuters expected a $1.39 per-share profit and $4.37 billion in revenue On a managed basis, which includes securitized loans still managed by Capital One, loan-loss provisions were $573 million, up from $534 million a year ago and down from $861 million in the fourth quarter. The total net charge-off rate was 2.04%, down from 3.66% a year ago and from 2.69% the previous quarter. Charge-offs are loans banks don't expect to be able to collect. The overall delinquency rate was 2.23%, compared with 3.07% in the year-ago period and 3.35% in the previous quarter. The charge-off rate for Capital One's U.S. card business was 3.92%, down from 6.2% a year ago and from the fourth quarter's 4.07%. Delinquencies reached 3.25%, compared with 3.59% in the year-ago period and 3.66% in the previous quarter. Shares were up 2% to $55 after hours. Capital One's stock is up 28% since the start of the year. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;

Stock News for Capital One (COF)
10/02/ and Capital One Launch Kiva San Francisco
09/29/201508:06:00Small Business Optimism Falls in the Third Quarter, According...
09/24/201511:04:00Capital One Named To 2015 Working Mother 100 Best Companies Recognized...
09/21/201518:00:00Capital One Financial Corporation to Webcast Conference Call...
09/09/201516:40:00Visa, Nasdaq, Others Invest in Bitcoin-Related Startup
09/09/201516:32:00Visa, Nasdaq, Others Invest $30 Million in Bitcoin-Related Startup...
08/24/201516:41:31Securities Registration (section 12(b)) (8-a12b)
08/24/201516:38:03Current Report Filing (8-k)
08/18/201510:53:30Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/18/201506:02:41Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
08/17/201519:00:00American Apparel Agrees to $90 Million Asset-Based Infusion
08/17/201510:13:37Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
08/17/201506:02:15Current Report Filing (8-k)
08/13/201517:40:08Goldman to Buy Assets from GE Capital bank
08/12/201520:00:34American Apparel's Rating Goes Further Into Junk Territory
08/12/201509:03:00Sixty-Four Percent Of America's Small Businesses Name Marketing...
08/11/201520:30:20American Apparel Warns It Needs to Raise Money
08/11/201519:43:37GE to Sell Health-Care Lending Operations to Capital One for...
08/11/201517:18:27GE to Sell Health-Care Lending Operations to Capital One for...
08/11/201517:00:43GE to Sell Health-Care Lending Operations to Capital One for...

Capital One and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations