Capital One (COF) Aiming for Rapid U.S. Growth with New Portfolio Bid
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Price: $149.35 +1.43%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 2.3%
EPS Growth %: +40.7%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 2.3%
EPS Growth %: +40.7%
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Capital One Financial Corp. (NYSE: COF) has made a bid for HSBC Holdings PLC's (NYSE: HBC) U.S. credit-card portfolio.
The move would be in addition to a recent bid by Capital One for ING Groep's (NYSE: ING) U.S. online bank, which was made a few trading sessions ago.
HSBC's unit would give Capital One the growth it desires, according to the Wall Street Journal, noting that consumers are still reluctant take on more debt as they still shake out leftovers from the recent financial crisis.
Bids for HSBC's business were due last week, but no detail has been released to the public about the potential sale.
General Electric (NYSE: GE), as noted in the link above, is also in the bidding process for ING's U.S. credit-card unit, though the WSJ notes that it is more reluctant to take on further mortgage-related debt.
Capital One is trading flat ahead of the bell this morning.
The move would be in addition to a recent bid by Capital One for ING Groep's (NYSE: ING) U.S. online bank, which was made a few trading sessions ago.
HSBC's unit would give Capital One the growth it desires, according to the Wall Street Journal, noting that consumers are still reluctant take on more debt as they still shake out leftovers from the recent financial crisis.
Bids for HSBC's business were due last week, but no detail has been released to the public about the potential sale.
General Electric (NYSE: GE), as noted in the link above, is also in the bidding process for ING's U.S. credit-card unit, though the WSJ notes that it is more reluctant to take on further mortgage-related debt.
Capital One is trading flat ahead of the bell this morning.
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