The P/E ratio is a significant indicator of a stock's valuation. Capital One's lower P/E ratio compared to the industry average could attract investors looking for undervalued stocks, potentially leading to a short-term positive impact on the stock price. However, the P/E ratio alone is not a definitive measure of future performance, and the article suggests that a lower P/E might also reflect lower growth expectations, which could temper investor enthusiasm. Therefore, the short-term impact is neutral until further financial metrics and market analysis provide additional context.