Capital One, a Warren Buffett-backed consumer bank and credit card issuer, will acquire the credit card lender Discover Financial Services, according to a report by The Wall Street Journal that cited people familiar with the matter. Capital One has been working with advisers to "study a deal" to buy Discover and a deal could be announced as soon as Tuesday, per the Journal's report. Bloomberg reported earlier Monday that Capital One was considering making an offer for Discover.Discover has a market value of ...

Capital One Financial is set to acquire Discover Financial Services, according to a report from The Wall Street Journal. The deal could be announced Tuesday, the outlet said, citing sources.The merger of the two companies, who are among the largest credit card issuers in the U.S., would expand Capital One's credit-card offerings. The news comes on the back of a Bloomberg News report on Monday that Capital One was considering an acquisition.Shares of Discover are down 1.7% lower for the year, putting the com ...

Visa (NYSE:V) is a giant among payment stocks. While many companies compete in the payment processing space, the two names that come to mind right away are Visa and Mastercard (NYSE:MA).  To be clear, this article doesn’t tell you not to invest in Visa. The stock has delivered solid returns for investors for years. For example, in just the last five years, V stock is up more than 90%, and the dividend, while having a meager yield of just 0.75%, has increased in the last 15 years. And the digital payment spa ...

Kobus LouwToday, many investors are looking for very high-yielding stocks and bonds. Ultra-high-yield investments are prevalent today due to the growing number of retired individual investors. Over the past decade, there has been a solid trend toward high stock ownership among older Americans as the traditional conservative retirement investing strategies are undone. On the one hand, this approach increases monthly income and overall returns. However, investors, particularly those looking to maintain th ...

Company also declares preferred stock dividend  MCLEAN, Va., Jan. 31, 2024 /PRNewswire/ -- Capital One Financial Corporation (NYSE: COF) today announced a quarterly dividend of $0.60 per common share payable February 23, 2024, to stockholders of record at the close of business on February 12, 2024. The company has announced dividends on its common stock every quarter since it became an independent company on February 28, 1995. Dividends declared by the company are eligible for direct reinvestment in the com ...

Card delinquencies and charge-offs offer evidence of consumers struggling to meet their financial obligations.Credit card balances and delinquencies have been rising as consumer spending remains strong, but government support drops from pandemic levels, with all stages of delinquency approaching their highest levels of the past decade-plus.Delinquencies occur when borrowers fail to make payments on their debts by the due date. A delinquency is essentially a late payment.The next step after a delinquency is ...

Shares of Capital One (COF) lost 1.3% in after-hours trading in response to lower-than-expected fourth-quarter 2023 results. Quarterly adjusted earnings of $2.24 per share lagged the Zacks Consensus Estimate of $2.50. Also, the bottom line fell 21% from the year-ago quarter.Results were adversely impacted by higher provisions, increasing deposit costs and a rise in non-interest expenses. However, an increase in net interest income (NII) and higher loan balance offered support. Further, higher fee income on ...

Capital One Financial Corporation (NYSE:COF) Q4 2023 Earnings Call Transcript January 25, 2024 5:00 PM ET Company Participants Jeff Norris - SVP, Finance Andrew Young - CFO Richard Fairbank - Chairman and CEO Conference Call Participants Sanjay Sakhrani - KBW Ryan Nash - Goldman Sachs Arren Cyganovich - Citi Rick Shane - J.P. Morgan Moshe Orenbuch - TD Cowen John Pancari - Evercore ISI Don Fandetti - Wells Fargo Bill Carcache - Wolfe Research Dominick Gabriele - Oppenheimer Operator Good day, and thank you ...

Fourth Quarter 2023 Results January 25, 2024 Forward-Looking Statements This presentation and related communications should be read in conjunction with the financial statements, notes, and other information contained in Capital One’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Please note that the following materials containing information regarding Capital One’s financial performance is preliminary and based on Capital One’s data available at the time of th ...

Card delinquencies and charge-offs offer evidence of consumers struggling to meet their financial obligations.And credit card balances and delinquencies have been rising as consumer spending remains strong, but government support is dropping from pandemic levels, with all stages of delinquency approaching their highest levels of the past decade-plus. Delinquencies occur when borrowers fail to make payments on their debts by the due date. A delinquency is essentially a late payment.The next step after a deli ...