Discover Financial Services (NYSE:DFS) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its stake in shares of Discover Financial Services (NYSE:DFS) by 27.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,087 shares of the financial services provider’s stock after selling 414 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Discover Financial Services were worth $152,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Elser Financial Planning Inc acquired a new stake in shares of Discover Financial Services during the second quarter valued at $91,044,000. Samlyn Capital LLC lifted its holdings in Discover Financial Services by 368.0% in the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after purchasing an additional 508,504 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after purchasing an additional 245,829 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Discover Financial Services by 67.1% during the second quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock worth $62,606,000 after buying an additional 192,142 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Discover Financial Services in the third quarter valued at approximately $21,169,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on DFS shares. Evercore ISI lifted their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada upped their target price on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $138.81.

Discover Financial Services Trading Down 0.1 %

Shares of DFS stock opened at $182.50 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. Discover Financial Services has a fifty-two week low of $85.37 and a fifty-two week high of $188.26. The firm’s 50 day moving average price is $155.09 and its two-hundred day moving average price is $138.97. The stock has a market cap of $45.82 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the business posted $2.59 EPS. On average, analysts anticipate that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.53%. Discover Financial Services’s dividend payout ratio (DPR) is currently 22.60%.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.