Capital One Stock Is Rising After Warren Buffett's Berkshire Hathaway Shuffled Bank Holdings: The Details

by Adam Eckert, Benzinga Staff Writer
May 15, 2023 4:39 PM | 1 min read | Make a Comment

Capital One Financial Corp COF shares are trading higher in Monday's after-hours session after Berkshire Hathaway Inc (NYSE: BRK-A) NYSE:BRK/B) took a stake in the financial services company. 

What Happened: According to a new regulatory filing, Warren Buffett's Berkshire Hathaway purchased 9.922 million shares of Capital One worth close to $1 billion. 

Capital One wasn't the only change in the banking space for Berkshire Hathaway last quarter. The Buffett-led firm also upped its positions in Citigroup Inc C and Bank Of America Corp BAC, while cutting positions in U.S. Bancorp USB and Bank Of New York Mellon Corp BK, per CNBC. 

See Also: More Than 700 Banks Face Significant Safety and Soundness Risk Due To Unrealized Losses, Says Federal Reserve Report

COF Price Action: Capital One shares are down more than 24% over the last three months. 

The stock was up 5.25% after hours at $93.80 at the time of writing, according to Benzinga Pro.

Photo:  from Flickr.

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