Analysis: Capital One's growth strategy focuses on deals

Capital One Financial's stock gained 2.3% last week while the Dow Jones industrial average gave up 1.5%. The bank has hit upon a strategy to sidestep the economic malaise plaguing most stocks. Capital One has announced plans to buy HSBC Holdings' credit card operation in the U.S. and also acquire ING Direct. "In an environment where investors are looking for asset and revenue growth from banks, Capital One was able to do two nice deals that accomplished both," said Sanjay Sakhrani, an analyst at Keefe, Bruyette & Woods.

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