Capital One Financial Corporation (NYSE:COF) is one of the best Goldman Sachs bank stocks. On August 15, BofA assigned a Buy rating to COF and lifted the price target on the shares to $245 from $244.
Capital One reported July figures that indicated better net charge-off rates, while there was a small increase in delinquencies. It is important to note that the bank has adopted a consolidated reporting approach and did not break out Discover card performance in the latest filing.
The bank’s card portfolio grew slowly, with low single-digit gains, an indication to BofA that Capital One continues to apply tight underwriting standards.
BofA Securities maintained its Buy rating on COF, with analyst Mihir Bhatia pointing to the positive long-term gains from the Discover purchase.
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