Capital One Shares Touch 52-week High After Earnings

By Stephen Nakrosis

Shares of Capital One Financial Corp. (COF) are trading higher Wednesday, a day after the company reported fourth-quarter earnings that topped some analysts' estimates.

At 1:34 p.m. EST, Capital One shares were trading 5.1% higher on the New York Stock Exchange at $107.36. Volume topped 2.8 million shares, above the 65-day average volume of just over 2 million.

Earlier in the session, the company's shares reached a new 52-week high of $107.59.

Capital One reported fourth-quarter earnings per share of $2.25 and adjusted earnings per share of $2.49. Analysts were expecting EPS of $2.28 and adjusted EPS of $2.37, according to FactSet.

On Wednesday, a number of analysts raised their price targets on Capital One's stock. RBC Capital raised its target to $105 a share from $98, Nomura raised its target to $111 from $108 and Piper Sandler raised its price target to $117 from $109, as reported by Benzinga.

BMO Capital cut its price target on Capital One stock to $145 from $153.

Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

January 22, 2020 13:55 ET (18:55 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.