Is Capital One Financial a Buy?
It's been a tough year for banks in general and Capital One Financial (NYSE: COF) in particular. The company has had two straight quarters of net losses during the COVID-19-fueled recession and is likely to reduce its dividend for the third quarter.
Is this a case of the bank hitting bottom and becoming a good buy on the dip? Or will Capital One continue to struggle over the next few quarters, making it a stock to avoid for the time being? Let's take a look.
Capital One reported a net loss of $918 million, or $2.21 per share, in the second quarter, down from a $1.6 billion net gain, or $3.24 per diluted share, in the second quarter of 2019. This was its second straight quarter with a net loss, following a net loss of $1.3 billion in the first quarter of this year.
Source Fool.com
