Capital One stock surges after Warren Buffett’s Berkshire Hathaway…

Capital One stock surges after Warren Buffett’s Berkshire Hathaway…

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Capital One Financial Corp COF Shares traded higher in Monday’s after-hours session after Berkshire Hathaway Inc (NYSE: BRK-A) NYSE:BRK/B) participated in the financial services company.

What happened: According to a new regulatory filing Warren Buffett Berkshire Hathaway bought 9.922 million shares of Capital One worth nearly $1 billion.

Capital One wasn’t the only change in banking for Berkshire Hathaway last quarter. The Buffett-led company also increased its positions Citigroup Inc C And Bank of America Corp B.A.Cwhile positions are being cut U.S. Bancorp USB And Bank of New York Mellon Corp BKper CNBC.

See also: More than 700 banks face significant safety and health risk from unrealized losses, according to a Federal Reserve report

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

As of writing, the stock is up 5.25% in after-hours trading at $93.80 Gasoline Pro.

Photo: Fortune Live Media by Flickr.

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