Jefferies reiterated a Hold rating and $69.00 price target on Capital One Financial (NYSE: COF) following the company's 2Q earnings report. COF reported adjusted EPS of $1.76, missing the Street's $1.86 estimate. Loan growth in the card segment of 11.1% remained strong while purchase volume decelerated from 19% to 14% sequentially. Consolidated NCOs of 2.01% grew 37bps YoY and compared to a 1.92% estimate, or $1,155M versus $1,097M.

Analyst John Hecht commented, "COF reported 2Q16 adjusted EPS of $1.76 versus our estimate of $1.82 and the Street's $1.86. COF reported another top-line beat on strong card and auto growth, however, this was offset by a higher than forecast provision ($1.6B versus our $1.3B) driven by card growth math, rising auto NCOs and taxi medallion exposure. Management maintained existing FY16/17 NCO and efficiency guidance and we maintain our Hold rating."

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Shares of Capital One Financial closed at $67.99 yesterday.