COF Stock Recent News

MCLEAN, Va. , June 18, 2024 /PRNewswire/ -- On Tuesday, July 23, 2024, at approximately 4:05 p.m.

Capital One is a financial services company with a market cap of over $50 billion, focusing on strong financial returns and acquiring Discover Financial Services. Q1 2024 highlights include $1.3 billion net income, strong credit card focus, and maintaining strong allowances for credit losses. Capital One is acquiring Discover at a 26% premium, expecting $2.7 billion in pre-tax synergies and a >15% increase in 2027 EPS.

Capital One announced it would acquire Discover Financial in a $35 billion deal earlier this year. The deal could make it the largest credit card lender in the U.S., but it faces scrutiny from regulators.

Market loan delinquency rates are slowing, indicating a reversal of the previous trend. The debt-to-income ratio remains healthy while the inflation rate is subdued, suggesting no signs of consumers' financial deterioration. Capital One will benefit from lower provisions for credit losses.

Capital One and Walmart announced the end of their exclusive consumer credit card partnership that began in 2019, though cardholders can continue to use their cards and earn rewards.

Capital One will no longer be the exclusive issuer of Walmart Consumer Credit Cards. The two companies announced Friday (May 24) in a joint press release that they ended their agreement.

Walmart Inc (NYSE: WMT) is in the green at writing after announcing an end to its years-long agreement with Capital One Financial Corp (NYSE: COF).  What does it mean for existing cardholders?

The retailer has been trying to sever ties with Capital One for over a year.

Cardholders can continue to use their card and earn and redeem rewards as they do today MCLEAN, Va. and BENTONVILLE, Ark.

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