Buckingham Research Maintains 'Neutral' Capital One (COF)
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Buckingham Research maintains 'Neutral' rating Capital One Financial (NYSE: COF).
Buckingham analyst says, "Capital One remains well-positioned to weather the current downturn, with ample liquidity and capital. The company appears likely to limit loan growth and continue to grow deposits and build its capital base. The company has the ability, we believe to withstand significant increases in credit costs without needing to raise capital. This is a much strong position than financial companies with significant mortgage exposure are in...Despite the challenges of higher chargeoffs, Capital One should remain solidly profitable, paying its $0.375 quarterly dividend and still building excess capital to prepare for a better lending environment. The key question remains: how high will credit costs rise?"
Capital One Financial Corporation is a diversified banking company focused primarily on consumer and commercial lending and deposit origination.
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