Why Capital One Stock Is Climbing Higher Today – Capital One Finl (NYSE:COF)

Capital One Financial Corp COF shares are trading higher Tuesday after Berkshire Hathaway took a new stake in the financial services company

What Happened: According to a new 13-F filing, Warren Buffett’s Berkshire Hathaway purchased 9.922 million shares of Capital One valued at more than $950 million.

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.

All disclosures in Berkshire’s regulatory filing are as of March 31.

Check This Out: Warren Buffett Trims Activision Blizzard, Adds Capital One In Q1: What Investors Need To Know

COF Price Action: Capital One shares are down more than 22% over the last three months and down more than 26% over the last year

The stock was up 6.54% after hours at $94.95 on the heels of the buy from Berkshire, according to Benzinga Pro.

Photo: Morgan from Flickr.

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