Capital One Financial Corp. (NYSE: COF) shares rose in value Thursday Dec 15 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Analysts at Bank of America Corp. upgraded shares of Capital One Financial Corp. (NYSE: COF) from Underperform to Neutral today. The company currently has a rating of Neutral on the stock. The one-year price target of $86.91 is a decrease compared to the opening price of $89.57, that has caused a number of other analysts to report on the company recently. Looking back over the last year, Capital One Financial Corp. stock has a high of $91.55. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Capital One Financial Corp. (NYSE: COF) shares last traded at $91.41, a jump of $2.46 or 2.77% from the previous closing price. Opening at $89.57, they fluctuated from $89.04 and $91.55 throughout the day.
Capital One Financial Corp. (NYSE: COF) now has a market cap of 45.81B.
Capital One Financial Corp. (NYSE: COF) Average Daily Trading Volume
560,502 shares crossed the trading desk yesterday, lower than the norm, out of a total float 497,482,000. Investors often use increases in trading volume to pinpoint heavy volume aggregation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
However, one day of high volume buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts that research thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Capital One Financial Corp. (NYSE: COF) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors and how they influence moving averages, traders are able to make make the best trades.
Trades for Capital One Financial Corp. (NYSE: COF) have ranged from $58.03 – 91.55, and the stock now has a 50-day MA of $81.56 and 200-day MA of $72.17. Today’s last price is 0.15%% below the 52 week high of $91.55.
Earnings growth is an important factor to consider when investing in stocks and investors look for companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.
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