This is Why TD Cowen is Bullish on Capital One Financial Corporation (COF)

Capital One Financial Corporation (NYSE:COF) is among Goldman Sachs’ top bank stocks to buy. On April 22, TD Cowen reiterated a Buy rating and a $260 price target for Capital One Financial Corporation (NYSE:COF). The research firm remains bullish about the stock despite the company missing first-quarter estimates due to higher-than-expected provisions in card and consumer segments.

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The higher-than-expected provisions in the card underscore expectations of robust growth and a higher reserve rate due to a subprime mix. Card loss rates were in line with expectations, even as auto and commercial loss rates ticked higher. Credit card average loans decreased by 1% to $271 billion in the first quarter, as auto average loans increased 2% to $84.5 billion.

Capital One reported first-quarter net income of $2.2 billion, or $3.34 per share, compared to $1.4 billion, or $3.45 per share, in Q1 2025. Revenue fell 2% to $15.2 billion. CEO Richard Fairbank said the results reflect solid top-line growth and strong credit performance.

Capital One Financial Corporation (NYSE:COF) is a technology-driven financial services company that operates as a major diversified bank and global payments provider. It offers credit cards, consumer banking (checking/savings), auto loans, and commercial banking services.

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