Capital One Missed Earnings and Truist Cut Its Target. Should You Buy the Dip on This Credit Card Giant?

Quick Read

• Capital One Financial (COF) missed Q1 earnings with adjusted EPS of $4.42 versus $4.55-$4.57 expected and revenue of $15.23B against $15.37B expected, prompting Truist Securities to cut its price target to $255 from $275 while maintaining a Buy rating.

• Capital One’s credit metrics are improving year-over-year with the 30+ day delinquency rate at 3% and pre-provision earnings up 8% sequentially to $6.8B, providing a constructive backdrop despite near-term earnings headwinds from integration costs related to the Discover acquisition.

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