Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Discover Financial Services (NYSE:DFS) by 16.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,121 shares of the financial services provider’s stock after selling 17,121 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Discover Financial Services were worth $4,414,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in DFS. BlackRock Inc. raised its stake in Discover Financial Services by 0.7% during the first quarter. BlackRock Inc. now owns 21,489,597 shares of the financial services provider’s stock worth $766,534,000 after acquiring an additional 142,220 shares during the period. JPMorgan Chase & Co. grew its holdings in Discover Financial Services by 42.6% in the 1st quarter. JPMorgan Chase & Co. now owns 7,155,617 shares of the financial services provider’s stock valued at $255,242,000 after buying an additional 2,138,282 shares during the last quarter. Nuveen Asset Management LLC increased its position in Discover Financial Services by 17.4% in the 1st quarter. Nuveen Asset Management LLC now owns 4,096,389 shares of the financial services provider’s stock worth $146,118,000 after buying an additional 606,886 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Discover Financial Services by 47.6% during the first quarter. AQR Capital Management LLC now owns 3,507,813 shares of the financial services provider’s stock worth $125,124,000 after buying an additional 1,131,212 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Discover Financial Services in the first quarter valued at approximately $90,915,000. 82.64% of the stock is owned by hedge funds and other institutional investors.
NYSE:DFS opened at $49.43 on Friday. The firm has a market capitalization of $15.15 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 9.20 and a beta of 1.88. Discover Financial Services has a twelve month low of $23.25 and a twelve month high of $90.72. The company has a quick ratio of 1.26, a current ratio of 1.18 and a debt-to-equity ratio of 2.70. The stock’s 50-day simple moving average is $50.50 and its 200 day simple moving average is $53.23.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported ($1.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($1.25). The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.63 billion. Discover Financial Services had a return on equity of 10.45% and a net margin of 7.65%. On average, analysts anticipate that Discover Financial Services will post 0.77 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.76 dividend on an annualized basis and a yield of 3.56%. Discover Financial Services’s dividend payout ratio (DPR) is presently 19.38%.
In other news, EVP Robert Andrew Eichfeld acquired 12,650 shares of Discover Financial Services stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $39.50 per share, with a total value of $499,675.00. Following the transaction, the executive vice president now owns 33,454 shares of the company’s stock, valued at approximately $1,321,433. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.
A number of analysts have weighed in on the stock. Credit Suisse Group reissued a “buy” rating on shares of Discover Financial Services in a report on Monday, May 18th. 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 note on Tuesday, July 28th. JMP Securities raised their price objective on Discover Financial Services from $48.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Friday, July 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $72.00 in a research report on Monday, June 22nd. Finally, BMO Capital Markets lifted their price target on shares of Discover Financial Services from $70.00 to $71.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $62.93.
Discover Financial Services Company 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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