LSV Asset Management decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 8.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,513,346 shares of the financial services provider’s stock after selling 437,668 shares during the quarter. LSV Asset Management owned 1.47% of Discover Financial Services worth $260,781,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Asset Dedication LLC acquired a new position in Discover Financial Services during the 3rd quarter worth approximately $28,000. Smithfield Trust Co. raised its holdings in Discover Financial Services by 620.0% in the 2nd quarter. Smithfield Trust Co. now owns 720 shares of the financial services provider’s stock valued at $36,000 after buying an additional 620 shares during the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in Discover Financial Services during the 2nd quarter worth approximately $38,000. NEXT Financial Group Inc bought a new stake in Discover Financial Services during the 3rd quarter worth approximately $45,000. Finally, Bedel Financial Consulting Inc. grew its holdings in Discover Financial Services by 53.9% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 914 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 320 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.
In related news, Director Mary K. Bush sold 1,920 shares of Discover Financial Services stock in a transaction on Friday, July 31st. The shares were sold at an average price of $49.23, for a total value of $94,521.60. Following the completion of the sale, the director now owns 55,899 shares of the company’s stock, valued at approximately $2,751,907.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Discover Financial Services from $55.00 to $74.00 and gave the stock a “hold” rating in a report on Friday. Zacks Investment Research lowered Discover Financial Services from a “hold” rating to a “sell” rating and set a $54.00 price target on the stock. in a research report on Tuesday, July 28th. Stephens increased their price target on Discover Financial Services from $42.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. JMP Securities lifted their price objective on Discover Financial Services from $48.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Friday, July 24th. Finally, Morgan Stanley upped their target price on Discover Financial Services from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $66.06.
Shares of DFS traded down $1.77 during trading hours on Monday, hitting $66.23. The stock had a trading volume of 59,056 shares, compared to its average volume of 4,098,653. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $59.37 and a 200-day simple moving average of $50.19. The firm has a market capitalization of $20.84 billion, a P/E ratio of 21.52 and a beta of 1.81. Discover Financial Services has a 1-year low of $23.25 and a 1-year high of $87.43.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.82. Discover Financial Services had a return on equity of 10.45% and a net margin of 7.65%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the business earned $2.36 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities analysts predict that Discover Financial Services will post 1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Wednesday, November 18th. Discover Financial Services’s dividend payout ratio is currently 19.38%.
Discover Financial Services Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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