Jim Cramer on Capital One: “I Hope It’ll Talk About Its Humongous Buyback on Its Conference Call”

Capital One Financial Corporation (NYSE:COF) is one of the stocks on Jim Cramer’s game plan for this week. During the episode, Cramer discussed the company’s performance in light of President Trump’s comments on the cap on credit card interest rates. The Mad Money host stated:

“We also get results from a company we own for the Charitable Trust called Capital One Financial. You’ve probably seen their ads. Capital One’s the giant credit card issuer that’s gotten hammered when the president suggested earlier this week a temporary cap on credit card interest rates. Remember, that was last weekend. I get where he’s coming from, okay, but if you cap those rates, most Americans simply won’t be able to qualify for a credit card. These companies would rather stop lending than just lend at a loss.

Remember, it’s unsecured debt. I think the president’s moved on to the next issue, which is why the banks are rallying again. Capital One’s going up with them. The company has plenty of cash. I hope it’ll talk about its humongous buyback on its conference call. We also want a game plan about what it’s going to do with its Discover credit card network. That could be gigantic, but it hasn’t told us enough yet.”

Image by Sergei Tokmakov, Esq. from Pixabay

Capital One Financial Corporation (NYSE:COF) provides banking and financial services, including credit cards, loans, deposit accounts, and commercial banking solutions.

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Disclosure: None. This article is originally published at Insider Monkey.