We are upgrading our recommendation on Capital One (COF) to Outperform. The company’s third quarter earnings were substantially ahead of the Zacks Consensus Estimate, driven primarily by higher-than-expected revenue and almost stable expenses.

However Incorporatedreased provisions and decrease in average deposits were on the downside. Nevertheless, we anticipate continued synergies from the company’s geographic diversification and expense management initiatives. Additionally, the repayment of the bailout money and the warrants sell-off by the Treasury augur well for investors, as the company is now free from government intervention and pay restrictions.

Zacks Investment Research

1. (COF) Capital One Financial Corp Default Rates Increase RiskOn Tuesday, the third-largest issuer of Visa credit cards, Capital One Financial Corp. (COF) stated...
2. (COF) U.S. Treasury Department Sells Capital One Financial WarrantsThe U.S. Treasury Department said on Tuesday that it will auction 12.7 million warrants to...
3. (PFG) Principal Financial Group – Bull of the DayWe are upgrading our recommendation on the shares of Principal Financial (PFG) to Outperform. The...
4. (CFFN) – Capital Federal Financial – does not have any concerns about its loan portfolioCapital Federal Financial (CFFN) is distinguishing itself from its financial brethren by avoiding risky assets...
5. (CFFN) – Capital Federal Financial – does not have any concerns about its loan portfolioCapital Federal Financial (CFFN) is distinguishing itself from its financial brethren by avoiding risky assets...
6. (CFFN) – Capital Federal Financial – does not have any concerns about its loan portfolioCapital Federal Financial (CFFN) is distinguishing itself from its financial brethren by avoiding risky assets...

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