Capital One Financial (COF) earnings per share soared to a strong $2.01 from a scant $0.16 in the prior quarter. The prior Q2 was wiped out by a variety of losses, expenses, settlements, reserves, amortization and fines that to-date have been significantly accounted for and recognized. Financial performance, therefore, has rebounded while financial position and capital have remained very strong. Risk management appears very good.
At QE 9-30-12 I have rated Capital One an “A-” on a scale of A+ to G-. This is no change in the rating from the prior QE 6-30-12. The median rating is “D” and the average rating at QE 6-30-12 was “C”. Financial position strength is weighted more than financial performance. The QE 6-30-12 bank ratings review is here.
“Capital One posted solid results across all of our businesses in the third quarter, including strong contributions from ING Direct and the HSBC U.S. credit card business,” said Richard D. Fairbank, Chairman and Chief Executive Officer. “We are well positioned to sustain strong returns and capital generation, even in an environment with low industry growth and prolonged low interest rates.”
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Capital One Earnings Soar
Published 10/19/2012, 11:11 AM
Updated 07/09/2023, 06:31 AM
Capital One Earnings Soar
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