Analyst Consensus ?
ConsensusBuy56 ratings
Bullish3562.5%
Neutral1730.4%
Bearish47.1%
Capital One Financial Corporation · COF · FY2025 Q3 · Calendar Q4 2025
Capital One posts strong Q3 as Discover integration advances
The call supports a constructive but execution-dependent view: strong earnings, improving credit quality and Discover-related synergies provide support, while integration costs, loan-growth effects and margin sustainability remain key tests.
Reported After market closeNYSEFinancial Services
$120.53B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.95
Consensus $4.49
EPS surprise
+32.5%
Reported versus consensus
Reported revenue
$15.36B
Consensus $15.07B
Revenue surprise
+1.9%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+1.5%
Event window
SPY move
-0.5%
Same window
Abnormal move
+2.1%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-8.2%
Up to 20 sessions
COFSPY benchmark
Ask FN2 about COF FY2025 Q3
Transcript, numbers and history already loaded
Why did COF rise 1.5% after beating EPS estimates in FY2025 Q3?What changed in COF's guidance and outlook in FY2025 Q3?Give me the bull and bear case for COF after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Capital One delivered another strong result with the full-quarter Discover contribution, reported a 8.36% net interest margin, announced a new $16 billion repurchase authorization and raised the dividend to $0.80 per share. Management continued to emphasize AI, debit migration and the $2.5 billion synergy plan, while integration costs remained a concern.
Guidance delta
No formal guidance was provided in the analysis.
Key takeaways
- Q3 performance was strong, with adjusted EPS of $5.95 and GAAP profit of $3.2 billion.
- Net interest margin rose to 8.36%, while credit quality improved and charge-off rates fell.
- Management is pursuing $2.5 billion of Discover-related synergies and migrating debit volume to the Discover network.
- Capital allocation includes a new $16 billion repurchase authorization and a dividend increase to $0.80 per share.
- The main execution questions are integration costs, loan-growth effects from the Discover brownout, and premium-card competition.
Management priorities
- Complete migration of debit volume to the Discover network by early 2026.
- Continue AI integration and develop AI-driven customer experiences.
- Invest in marketing and products for heavy spenders.
- Capture $2.5 billion of combined Discover synergies.
- Maintain and expand Capital One Shopping, Travel, and Auto Navigator.
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Miss
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Analyst 52W Price Targets
$193.07Current
$140Low
$233.33Average
$300High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Piper Sandler | Overweight | Overweight | Maintain | Sep 28, 2026 |
| Wolfe Research | Outperform | Outperform | Maintain | Aug 25, 2026 |
| UBS | Buy | Buy | Maintain | Aug 3, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 28, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 28, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 22, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 13, 2026 |
| HSBC | Buy | Hold | Upgrade | Jul 13, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 9, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 7, 2026 |
| BTIG | Buy | Buy | Maintain | Jun 30, 2026 |
| Truist Securities | Buy | Buy | Maintain | Apr 23, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Apr 16, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Apr 9, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 7, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jan 2, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 23, 2025 |
| Baird | Outperform | Neutral | Upgrade | Mar 11, 2025 |
| Jefferies | Buy | Hold | Upgrade | Jun 6, 2024 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jan 29, 2024 |
| Stephens & Co. | Underweight | Underweight | Maintain | Jul 21, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Apr 28, 2023 |
| Odeon Capital | Sell | Hold | Downgrade | Mar 2, 2023 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 22, 2022 |
| Oppenheimer | Perform | Outperform | Downgrade | Jul 12, 2022 |
| Nomura | Buy | Buy | Maintain | Apr 24, 2020 |
| Piper Jaffray | Overweight | Overweight | Maintain | Sep 11, 2019 |
| PiperJaffray | Overweight | Neutral | Upgrade | Jun 14, 2018 |
| Nomura Instinet | Neutral | Buy | Downgrade | Feb 21, 2018 |
| Instinet | Neutral | Buy | Downgrade | Feb 21, 2018 |
| Buckingham Research | Buy | Buy | Maintain | Jan 24, 2018 |
| Buckingham | Buy | Buy | Maintain | Jan 24, 2018 |
| Compass Point | Buy | Neutral | Upgrade | Dec 22, 2017 |
| Bank of America | Buy | Neutral | Upgrade | Dec 18, 2017 |
| Wedbush | Neutral | Underperform | Upgrade | Oct 25, 2017 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Nov 14, 2016 |
| Stifel | Hold | Buy | Downgrade | Nov 14, 2016 |
| CLSA | Buy | Buy | Maintain | Sep 23, 2016 |
| Rafferty Capital | Hold | Buy | Downgrade | Jul 25, 2016 |
| Rafferty | Hold | Buy | Downgrade | Jul 25, 2016 |
| DA Davidson | Buy | Buy | Maintain | Jul 8, 2016 |
| Sterne Agee CRT | Underperform | Neutral | Downgrade | Jun 8, 2016 |
| Sterne Agee | Underperform | Neutral | Downgrade | Jun 8, 2016 |
| Guggenheim | Neutral | Sell | Upgrade | May 9, 2016 |
| Sandler O'Neil | Buy | Hold | Upgrade | Apr 27, 2016 |
| Bernstein | Outperform | Outperform | Maintain | May 6, 2015 |
| FBR Capital | Market Perform | Outperform | Downgrade | Apr 24, 2015 |
| Susquehanna | Neutral | Positive | Downgrade | Jan 17, 2014 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Oct 14, 2013 |
| Sandler O'Neill | Hold | Hold | Maintain | May 28, 2013 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Jan 18, 2013 |
| Janney Capital | Neutral | Buy | Downgrade | Jan 18, 2013 |
| Edward Jones | Buy | Buy | Maintain | Dec 14, 2012 |
| Rochdale Securities | Buy | Hold | Upgrade | Oct 22, 2012 |
| Drexel Hamilton | Buy | Buy | Maintain | Oct 2, 2012 |
| Argus Research | Hold | Sell | Upgrade | May 8, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $193.07. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Piper Sandler | Analyst unavailable | $260 | $200.2 | +34.7% | Sep 28, 2026 |
| Wolfe Research | Analyst unavailable | $275 | $216.27 | +42.4% | Aug 25, 2026 |
| Deutsche Bank | Analyst unavailable | $245 | $215.34 | +26.9% | Aug 20, 2026 |
| UBS | Erika Najarian | $280 | $216.64 | +45.0% | Aug 3, 2026 |
| Barclays | Analyst unavailable | $240 | $206.22 | +24.3% | Jul 22, 2026 |
| HSBC | Saul Martinez | $229 | $201.52 | +18.6% | Jul 12, 2026 |
| Capital One Financial | Analyst unavailable | $231 | $191.95 | +19.6% | Jul 9, 2026 |
| Barclays | Analyst unavailable | $242 | $206.5 | +25.3% | Jul 7, 2026 |
| BTIG | Analyst unavailable | $259 | $202.28 | +34.1% | Jun 30, 2026 |
| Piper Sandler | Analyst unavailable | $254 | $202.28 | +31.6% | Jun 29, 2026 |
| Truist Financial | Brian Foran | $255 | $199.43 | +32.1% | Apr 23, 2026 |
| Morgan Stanley | Analyst unavailable | $273 | $202.37 | +41.4% | Apr 16, 2026 |
| RBC Capital | Jon Arfstrom | $235 | $191.7 | +21.7% | Apr 10, 2026 |
| Wells Fargo | Analyst unavailable | $260 | $194.73 | +34.7% | Apr 9, 2026 |
| Capital One Financial | Analyst unavailable | $213 | $194.73 | +10.3% | Apr 9, 2026 |
| Jefferies | John Hecht | $300 | $180.85 | +55.4% | Mar 16, 2026 |
| Truist Financial | Analyst unavailable | $275 | $220.17 | +42.4% | Jan 26, 2026 |
| Barclays | Analyst unavailable | $287 | $217.3 | +48.7% | Jan 26, 2026 |
| Deutsche Bank | Analyst unavailable | $256 | $222.17 | +32.6% | Jan 23, 2026 |
| Capital One Financial | Analyst unavailable | $270 | $235.07 | +39.8% | Jan 23, 2026 |
| Morgan Stanley | Analyst unavailable | $300 | $234.39 | +55.4% | Jan 20, 2026 |
| RBC Capital | Analyst unavailable | $275 | $231.5 | +42.4% | Jan 12, 2026 |
| Evercore ISI | Analyst unavailable | $290 | $255.26 | +50.2% | Jan 6, 2026 |
| Goldman Sachs | Ryan Nash | $300 | $250.51 | +55.4% | Jan 6, 2026 |
| Barclays | Analyst unavailable | $294 | $250.51 | +52.3% | Jan 6, 2026 |
| Wells Fargo | Donald Fandetti | $280 | $251.94 | +45.0% | Jan 5, 2026 |
| Capital One Financial | Analyst unavailable | $308 | $248.45 | +59.5% | Dec 26, 2025 |
| Truist Financial | Analyst unavailable | $290 | $246.1 | +50.2% | Dec 22, 2025 |
| Morgan Stanley | Analyst unavailable | $280 | $240.59 | +45.0% | Dec 16, 2025 |
| Capital One Financial | Mihir Bhatia | $268 | $240.76 | +38.8% | Dec 15, 2025 |
| Wolfe Research | Darrin Peller | $270 | $230.68 | +39.8% | Dec 8, 2025 |
| Capital One Financial | Moshe Orenbuch | $261 | $218.61 | +35.2% | Nov 26, 2025 |
| Robert W. Baird | David George | $270 | $217.05 | +39.8% | Oct 22, 2025 |
| Barclays | Terry Ma | $271 | $223.59 | +40.4% | Oct 22, 2025 |
| HSBC | Analyst unavailable | $218 | $210.74 | +12.9% | Oct 10, 2025 |
| UBS | Analyst unavailable | $266 | $213.14 | +37.8% | Oct 7, 2025 |
| Barclays | Analyst unavailable | $257 | $214.4 | +33.1% | Oct 6, 2025 |
| Evercore ISI | Analyst unavailable | $255 | $223.6 | +32.1% | Sep 30, 2025 |
| Morgan Stanley | Jeffrey Adelson | $267 | $224.05 | +38.3% | Sep 29, 2025 |
| Truist Financial | Analyst unavailable | $225 | $182.73 | +16.5% | Apr 25, 2025 |
| RBC Capital | Jon Arfstrom | $190 | $162.52 | -1.6% | Apr 14, 2025 |
| Truist Financial | Analyst unavailable | $215 | $174.82 | +11.4% | Mar 21, 2025 |
| Evercore ISI | John Pancari | $200 | $165.4 | +3.6% | Mar 12, 2025 |
| Wells Fargo | Donald Fandetti | $210 | $178.89 | +8.8% | Jan 3, 2025 |
| Deutsche Bank | Mark DeVries | $215 | $178.89 | +11.4% | Jan 3, 2025 |
| Capital One Financial | Keith Horowitz | $225 | $182.64 | +16.5% | Nov 21, 2024 |
| Capital One Financial | Keith Horowitz | $190 | $151.98 | -1.6% | Sep 20, 2024 |
| Jefferies | John Hecht | $165 | $135.48 | -14.5% | Jun 6, 2024 |
| Capital One Financial | Moshe Orenbuch | $150 | $144.35 | -22.3% | May 15, 2024 |
| Wolfe Research | Bill Carcache | $189 | $143.27 | -2.1% | Apr 4, 2024 |
| Capital One Financial | Mihir Bhatia | $129 | $113.77 | -33.2% | Dec 6, 2023 |
| Stephens | Vincent Caintic | $140 | $108.29 | -27.5% | Aug 2, 2022 |
| Citigroup | Analyst unavailable | $157 | $108.93 | -18.7% | Jul 25, 2022 |
| Deutsche Bank | Analyst unavailable | $170 | $108.77 | -11.9% | Jul 22, 2022 |
| Morgan Stanley | Analyst unavailable | $121 | $114.27 | -37.3% | Jul 22, 2022 |
| Robert W. Baird | David George | $145 | $102.11 | -24.9% | Jun 17, 2022 |
| Piper Sandler | Kevin Barker | $143 | $124.35 | -25.9% | Apr 28, 2022 |
| Capital One Financial | Analyst unavailable | $188 | $125.43 | -2.6% | Apr 27, 2022 |
| Stephens | Analyst unavailable | $193 | $125.98 | -0.0% | Apr 27, 2022 |
| Morgan Stanley | Analyst unavailable | $152 | $132.23 | -21.3% | Apr 27, 2022 |
| Wells Fargo | Analyst unavailable | $160 | $132.23 | -17.1% | Apr 27, 2022 |
| Oppenheimer | Dominick Gabriele | $163 | $130.42 | -15.6% | Apr 5, 2022 |
| Bank of America Securities | Mihir Bhatia | $167 | $133.25 | -13.5% | Mar 28, 2022 |
| BMO Capital | James Fotheringham | $194 | $144.35 | +0.5% | Jan 26, 2022 |
| Deutsche Bank | Meng Jiao | $192 | $144.35 | -0.6% | Jan 26, 2022 |
| Stephens | Vincent Caintic | $205 | $144.35 | +6.2% | Jan 26, 2022 |
| Credit Suisse | Moshe Orenbuch | $185 | $144.35 | -4.2% | Jan 26, 2022 |
| RBC Capital | Jon Arfstrom | $177 | $151.58 | -8.3% | Jan 25, 2022 |
| J.P. Morgan | Richard Shane | $177 | $151.03 | -8.3% | Jan 19, 2022 |
| Goldman Sachs | Ryan Nash | $174 | $150.16 | -9.9% | Jan 6, 2022 |
| Barclays | Jason Goldberg | $207 | $147.77 | +7.2% | Jan 3, 2022 |
| UBS | Eric Wasserstrom | $200 | $151.84 | +3.6% | Nov 1, 2021 |
Track every rating change on COF the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCapital One Financial Corporation, identified by its ticker COF, operates as a prominent financial services holding company. It oversees essential subsidiaries such as Capital One Bank (USA), National Association, and Capital One, National Association, which collectively offer a broad spectrum of financial products and services throughout the United States, Canada, and the United Kingdom. The company structures its extensive operations into three core divisions: Credit Card, Consumer Banking, and Commercial Banking. Clients can utilize various deposit instruments, including checking accounts, money market accounts, negotiable order of withdrawal (NOW) accounts, savings accounts, and time deposits.…
Historical context
All COF earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
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Get the COF recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-10-01T01:06:03.953016+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-01T01:06:03.950122+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-01. For educational purposes only; not investment advice.