Capital One Announced Offer of Common Stock to Help HSBC

On late Wednesday, Capital One Financial (NYSE:COF) announced an offer of $1.25 billion of common stock to assist HSBC’s (NYSE:HBC) U.S. credit card business.Capital One plans to purchase HSBC’s credit card business that consists an estimated $30 billion in loans, for $2.6 billion.Capital One Financial (NYSE:COF) has potential upside of 9.6% based on a current price of $52.88 and an average consensus analyst price target of $57.95.

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