Capital One Q4 Profit Up 85%, Despite Lower Revenue (COF)

Filed in ceo, dividend, Gold Investing, Gold Investment, o, revenue, shares by on January 21, 2011 0 Comments

Banker and credit card issuer Capital One Financial Corp. ( COF ) late Thursday said its fourth quarter profit surged 85% from last year, beating analyst estimates. The McLean, VA-based company reported fourth quarter net income of $697 million, or $1.52 per share, compared with $376 million, or 83 cents per share. Revenue fell 1.3% from last year to $4 billion. On average, Wall Street analysts expected a smaller profit of $1.40 per share, on lower revenue of $3.92 billion. CEO Richard Fairbank commented, “We began to see some stabilization in loan volumes and early signs of a return to loan growth in 2011.” Capital One shares fell 44 cents, or -0.9%, in premarket trading Friday. The Bottom Line Shares of Capital One Financial ( COF ) have a .42% dividend yield, based on last night’s closing stock price of $47.25. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the $50-$53 price levels. Capital One Financial Corp. ( COF ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Capital One Q4 Profit Up 85%, Despite Lower Revenue (COF)

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