Jim Cramer Says Capital One is a Buy

Capital One Financial Corporation (NYSE:COF) is one of the relatively cheap S&P 500 stocks Jim Cramer talked about. Cramer highlighted COF as one of his favorites, as he commented:

“I’m going to run through my favorites in rapid-fire format. There were a couple of credit card plays, including Charitable Trust holding Capital One Financial, COF, which just merged with Discover and is projected to have nearly 14% earnings growth next year despite selling for just roughly 11 times next year’s numbers. That’s why I think it’s such a buy.”

Capital One Financial Corporation (NYSE:COF) provides banking and financial services, including credit cards, deposits, consumer lending, and commercial real estate financing. The firm also offers digital banking, treasury management, and capital markets solutions for individuals, small businesses, and commercial clients. Cramer mentioned the stock during the September 17 episode and stated:

“And you can get even more buying of Capital One… The credit card bank, which will make a fortune now that it’s merged with Discover. Very few defaults in Capital One, far fewer than I thought there would be at this point in the cycle. As J. Powell said, households are in good shape, and that’s not about to change.”

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