WEALTHFRONT Corp bought a new position in Discover Financial Services (NYSE:DFS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,540 shares of the financial services provider’s stock, valued at approximately $1,035,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bowling Portfolio Management LLC lifted its holdings in shares of Discover Financial Services by 1.7% in the 3rd quarter. Bowling Portfolio Management LLC now owns 38,708 shares of the financial services provider’s stock worth $2,959,000 after purchasing an additional 664 shares during the last quarter. Azimuth Capital Management LLC raised its stake in Discover Financial Services by 0.5% during the 2nd quarter. Azimuth Capital Management LLC now owns 154,100 shares of the financial services provider’s stock valued at $10,850,000 after acquiring an additional 750 shares in the last quarter. Barnett & Company Inc. raised its stake in Discover Financial Services by 2.7% during the 3rd quarter. Barnett & Company Inc. now owns 30,335 shares of the financial services provider’s stock valued at $2,319,000 after acquiring an additional 800 shares in the last quarter. Heritage Investors Management Corp raised its stake in Discover Financial Services by 2.7% during the 3rd quarter. Heritage Investors Management Corp now owns 30,852 shares of the financial services provider’s stock valued at $2,359,000 after acquiring an additional 800 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its stake in Discover Financial Services by 1.5% during the 2nd quarter. Wesbanco Bank Inc. now owns 54,386 shares of the financial services provider’s stock valued at $3,830,000 after acquiring an additional 830 shares in the last quarter. Institutional investors own 86.26% of the company’s stock.
Shares of DFS stock opened at $64.84 on Friday. Discover Financial Services has a 1 year low of $64.11 and a 1 year high of $81.93. The firm has a market cap of $22.34 billion, a PE ratio of 10.84, a PEG ratio of 0.68 and a beta of 1.51. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.48 and a current ratio of 1.48.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.05. Discover Financial Services had a return on equity of 25.49% and a net margin of 19.51%. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.69 billion. As a group, research analysts expect that Discover Financial Services will post 7.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 6th. Stockholders of record on Wednesday, November 21st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Tuesday, November 20th. Discover Financial Services’s dividend payout ratio (DPR) is presently 26.76%.
DFS has been the topic of several recent analyst reports. Bank of America lifted their target price on Discover Financial Services from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Friday, September 21st. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research note on Wednesday, September 26th. Wells Fargo & Co lifted their target price on Discover Financial Services from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, October 1st. JPMorgan Chase & Co. raised Discover Financial Services from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 2nd. Finally, Citigroup cut their target price on Discover Financial Services from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, November 1st. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Discover Financial Services has an average rating of “Buy” and a consensus price target of $86.40.
In related news, EVP Carlos Minetti sold 3,750 shares of Discover Financial Services stock in a transaction on Monday, October 1st. The stock was sold at an average price of $77.26, for a total value of $289,725.00. Following the transaction, the executive vice president now directly owns 130,102 shares in the company, valued at approximately $10,051,680.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia A. Glassman sold 2,000 shares of Discover Financial Services stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $69.50, for a total value of $139,000.00. Following the completion of the transaction, the director now owns 54,032 shares in the company, valued at $3,755,224. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,100 shares of company stock worth $7,590,463. 0.81% of the stock is owned by insiders.
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About Discover Financial Services
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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