Here's Why Capital One Financial Stock Is Jumping Today
Shares of Capital One Financial (NYSE: COF) are rising today, up 8.7% as of 12:04 p.m. EDT, after the company posted second-quarter earnings that beat estimates on the top and bottom lines. The bank earned $1.94 per share on $6.7 billion of revenue, exceeding estimates of $1.90 and $6.67 billion, respectively.
Capital One is not the only bank to beat earnings expectations this quarter. In fact, most big banks produced better-than-expected earnings. So why did Capital One's stock price soar while others didn't move nearly as much?
The majority of Capital One's revenue comes from its credit card business. Image source: Getty Images.
Source: Fool.com
Capital One Financial Stock
€125.00
0.000%
Our community is currently high on Capital One Financial with 11 Buy predictions and 5 Sell predictions.
However, we have a potential of -1.6% for Capital One Financial as the target price of 123 € is below the current price of 125.0 €.
