Capital One's Third Quarter: Charge-Offs Increase, but So Do Income and Loan Yield
There was not much in narrow-moat Capital One’s third quarter that would change our view and long-term forecast for the company. We plan on maintaining our $97 fair value estimate. The company posted diluted EPS of $1.90, an increase of more than 12% from the previous quarter but a 4.5% drop year over year. Net interest income after provisions increased 5.4% sequentially and 0.6% year over year. ÂIn terms of credit quality, charge-offs were up 7.4% sequentially to $1.2 billion, while annualized...
Capital One Financial is a financial services holding company. Through its subsidiaries, the company provides an array of financial products and services. The company's segments are: Credit Card, which consists of the company's domestic consumer and small business card lending, and international card businesses in Canada and the United Kingdom.; Consumer Banking, which consists of the company's deposit gathering and lending activities for consumers and small businesses, and national auto lending; and Commercial Banking, which consists of the company's lending, deposit gathering, capital markets and treasury management services to commercial real estate and commercial and industrial customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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