COF Stock Recent News
COF LATEST HEADLINES
Capital One is one of the largest credit card issuers in the U.S. It recently agreed to acquire Discover Financial in an all-stock deal valued at $35 billion. Consumer credit card delinquencies have risen over the past several quarters.
This financial stock is trading for a discount and has some interesting future growth potential.
A federal judge ruled Tuesday (March 26) that Walmart can end its credit card partnership with Capital One early because the bank did not provide the level of service required by the companies' 2018 agreement. The judge ruled that “repeated customer service failures” allowed Walmart to end the partnership, Reuters reported Tuesday (March 26).
A federal judge ruled on Tuesday that Walmart can end its credit card partnership with Capital One early because the bank failed to provide the required level of customer service.
A freshened-up review process for bank mergers, proposed by federal regulators, may only go into effect if President Joe Biden is re-elected in November, analysts said Friday.
Capital One says its planned $35.3 billion purchase of Discover will boost competition. That's according to a report Thursday (March 21) by Reuters, citing information shared by a source who had seen the bank's regulatory application.
190 million Americans have a credit card, and in 2022, 91 million of those cardholders paid interest on a revolving balance.
Mike Nicolas, Oakmark Funds portfolio manager, joins 'Money Movers' to discuss how Oakmark views the financials sector, how much of the financials strength is due to capital markets, and the deal between Capital One and Discover.
Capital One (COF) benefits from strategic acquisitions, decent loan demand and higher interest rates. However, rising expenses and poor asset quality are major headwinds.
Berkshire Hathaway, the holding company run by Warren Buffett, acquired millions of shares of Capital One Financial in the first half of 2023. Capital One Financial recently offered to acquire Discovery Financial Services for $35 billion.