Capital One Financial Corp (NYSE: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 (NYSE:C) and Bank Of America Corp (NYSE:BAC), while cutting positions in U.S. Bancorp (NYSE:USB) and Bank Of New York Mellon Corp (NYSE:BK).
All disclosures in Berkshire’s regulatory filing are as of March 31.
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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.
