Capital One Reports February Stats, Citigroup Maintains Buy Rating

Citigroup has published a research report on Capital One Financial Corporation COF after the company reported its February statistics on credit card balances.

In the report, Citigroup writes "Overall, February results were as expected with further improvement in credit offset by seasonal declines in card balances. Speaking at our recent Citi Financials conference, CFO Gary Perlin struck a positive tone on COF's position in the banking and card business while pointing to modest loan growth on signs of increased demand. He also noted the correlation between lower delinquencies in cards with industry balance growth which bodes well for expected loan growth."

Citigroup maintains its Buy rating and $55 price target.

Capital One Financial closed yesterday at $49.46.