Mesirow Financial Investment Management Inc. significantly expanded its investment in Capital One Financial Corporation, increasing its stake by an impressive 826.8% during the second quarter of 2023. According to its latest Form 13F filing with the Securities and Exchange Commission (SEC), the firm acquired an additional 14,403 shares, bringing its total holdings to 16,145 shares, valued at approximately $3,435,000.
This substantial increase in ownership comes as several other institutional investors also adjusted their positions in Capital One Financial. Notably, Kingstone Capital Partners Texas LLC boosted its stake by an astounding 588,668.3%, now controlling 117,447,497 shares worth around $24.99 billion. Vanguard Group Inc. and Bank of New York Mellon Corp. also made significant adjustments, increasing their respective holdings by 1.6% and 23.7% in the first quarter.
Insider Transactions Offer Insight
Recent insider transactions have also captured attention. On October 27, 2023, CEO Richard D. Fairbank sold 103,486 shares at an average price of $225.68, totaling approximately $23.35 million. Following this transaction, Fairbank retained 4,051,228 shares, valued at around $914.28 million. This sale resulted in a 2.49% decrease in his ownership.
Additionally, Chief Accounting Officer Timothy P. Golden sold 3,462 shares on August 12 for about $727,989. Post-sale, Golden’s holdings dropped to 8,987 shares, valued at $1.89 million. Over the past ninety days, insiders sold a total of 116,670 shares for approximately $26.15 million. Corporate insiders now own 1.26% of Capital One’s stock.
Market Performance and Analyst Outlook
As of the latest trading session, Capital One Financial shares opened at $220.10, reflecting a 0.8% increase. The stock’s performance indicators include a 50-day moving average of $219.83 and a 200-day moving average of $207.46. The company has seen a 52-week low of $143.22 and a high of $232.45.
In its most recent earnings report on October 21, 2023, Capital One Financial reported earnings per share of $5.95, surpassing analysts’ expectations of $4.25 by $1.70. The company also generated revenue of $15.36 billion, exceeding forecasts of $15.06 billion and marking a 53.4% year-over-year increase. Analysts predict that Capital One Financial will post earnings per share of $15.65 for the current fiscal year.
Founded as a financial services holding company, Capital One operates primarily in the United States, Canada, and the United Kingdom, providing a diverse range of financial products through its segments: Credit Card, Consumer Banking, and Commercial Banking.
