Company Update (NYSE:COF): Capital One’s Board of Directors Authorizes the Repurchase of up to an Additional $300 Million of Shares of Common Stock

[PR Newswire] – MCLEAN, Va., Feb. 17, 2016 /PRNewswire/ — Capital One Financial Corporation (COF) today announced that the company’s Board of Directors has authorized the repurchase of up to an additional $300 million of shares of common stock through the end of the second quarter of 2016. This amount is in addition to the $3.125 billion of share repurchases authorized by the board last year. The company notified the Federal Reserve of its intention to engage in additional share repurchases in excess of the amount included in its 2015 capital plan, and the Federal Reserve did not object. While the company expects to complete the total authorized amount of repurchases in the authorized period, the timing and exact amount of any Capital One common stock repurchases will depend on various factors, including market conditions, opportunities for growth, and the company’s capital position and amount of retained earnings. Read more on this. Capital One Financial Corporation (COF) , currently valued at $34.68B, began trading this morning at $64.96. Looking at today’s market, COF one day range is $64.87 to $66.04 with its 52-week range being $58.49 to $92.10. COF shares are currently priced at 8.32x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 10.23x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $1.60 per share annually in dividends, yielding 2.56%. Consensus earnings for the current quarter by the 25 sell-side analysts covering the stock is an estimate of $1.96 per share, which would be $0.04 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $7.72 which would be a $0.65 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $6.15 Billion. If realized, that would be a 8.85% increase over the year-ago quarter. More recently, BofA/Merrill downgraded COF from Buy to Neutral (Feb 11, 2016). Previously, DA Davidson Initiated COF at to Neutral. When considering if perhaps the stock is under or overvalued, the average price target is $81.78, which is 25.89% above where the stock opened this morning. See more in (NYSE:COF) Similar Articles: Market Update: Capital One Financial Corporation (NYSE:COF) – Capital One Reports Fourth Quarter 2015 Net Income of $920 million, or $1.58 per share Company Update: Capital One Financial Corporation (NYSE:COF) – University of Illinois, Capital One Celebrate the Opening of the Illinois Digital Campus Lab at Research Park Market Update: The Sherwin-Williams Company (NYSE:SHW) – Sherwin-Williams Declares Dividend of $0.67 per Common Share; Board Approves 10 Million Share Stock Repurchase Authorization