When the legendary investor Warren Buffett makes a move, Wall Street pays attention. Known as the ‘Oracle of Omaha’ and the mastermind behind Berkshire Hathaway, Buffett has amassed a fortune of over $100 billion throughout his career. Buffett’s preferred investing style has always been value investing, which entails identifying undervalued stocks with strong fundamentals.
So, it’s definitely worth nosing through Buffett’s Berkshire Hathaway portfolio to see which stocks he recently bought. And when some of those stocks also get the endorsement of one of Wall Street’s top banks, such as J.P. Morgan, it sends an even stronger signal these names could be ripe for the picking.
With this in mind, we opened up the TipRanks database to pull up the details on a pair of stocks that get a thumbs up from both of these investing institutions. Let’s take a closer look.
Capital One Financial (COF)
First up on our list is Capital One Financial, a bank holding company based in Fairfax County, Virginia. Capital One is well-known as a credit card issuer – the company’s ‘What’s in your wallet?’ tagline is ubiquitous in TV commercials. Additionally, the company is involved in retail and commercial banking, savings accounts, and automotive loans.
Capital One’s banking operations offers retail clients the advantages of no-fee banking, and access to more than 70,000 ATMs. These advantages are backed up by the bank’s assets – Capital One had $349.8 billion in total deposits as of the March 31 of this year, part of its $471.7 billion in total assets held.
The company reported its 1Q23 results at the end of April. The top-line result of $8.9 billion was down 2% year-over-year and missed the forecast by $163.8 million. At the bottom line, the bank’s adjusted EPS of $2.31 was less than half of the year-ago figure of $5.62 and fell well short of the $3.93 forecast.
The picture isn’t all gloomy, however. Capital One, at the beginning of May, declared its regular quarterly dividend, and kept the payment at 60 cents per common share. This marked the seventh…
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