Capital One Financial Corp. (NYSE: COF) shares rose on Thursday Dec 1 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks opened with slight gains on Thursday.
The Dow Jones Industrial Average DJIA, +0.31% rose 38.22 points, or 0.2%, to 19,174, while the S&P 500 SPX, +0.01% added 2.1 points to 2,202, a rise of 0.1%.
The Nasdaq Composite Index COMP, -0.32% rose less than 1 point to 5,323, essentially unchanged on the day.
Capital One Financial Corp. (NYSE: COF) had its Neutral rating reiterated by equities researchers at Wedbush in a research note to investors. With a rating of Neutral on the shares, the company has a 52-week high of $84.93. The one-year price target of $82.37 is a decrease compared to the opening price of $84.45, causing a fair amount of other analysts to report on the company recently. Usually, after analysts publish a “reiterated rating” report on a stock, they will subsequently issue other revisions, often followed by a price target change.
Shares of Capital One Financial Corp. (NYSE: COF) opened at $84.45 on Tuesday and has traded in a range between, $84.17 and $84.93, and last traded at $84.57, which is an increase of $0.53 or 0.63% over the previous closing price.
Capital One Financial Corp. (NYSE: COF) now has a market cap of 42.38B.
Capital One Financial Corp. (NYSE: COF) Average Daily Trading Volume
The stock’s average daily volume is 3,742,040 shares out of a total float 497,572,000 and some 249,589 shares traded hands yesterday, lower than the average. Swing traders often use upticks in trading volume to pinpoint heavy volume aggregation or circulation by institutional investors, so look for trading volume to pick up in the coming days.
However, one day of heavy buy side trading is not enough to assert a trend. So market traders will continue to watch for institutional sponsorship as a cue 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.
Professional investors such as these have substantial teams of analysts researching thousands of stocks. Thus, 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.
Traders are able to make make educated trades when they follow the trading habits of professional investors.
Trades for Capital One Financial Corp. (NYSE: COF) have ranged from $58.03 – 84.93, and the stock now has a 50-day MA of $76.57 and 200-day MA of $70.73. Today’s last price is 0.42%% lower than the 52 week high of $84.93.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more for 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.