Stephens Inc. AR reduced its stake in Discover Financial Services (NYSE:DFS) stock by 2.7% in the first quarter, Holdings Channel reports. The company owned 5,936 shares of the financial services provider after selling 164 shares during the period. Stephens Inc. AR’s interests in Discover Financial Services were valued at $654,000 at the time of the most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in DFS. Tyler Stone Wealth Management acquired a new interest in Discover Financial Services stock valued at approximately $27,000 during the fourth quarter. Benjamin Edwards Inc. increased its position in Discover Financial Services by 43.9% in the fourth quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services firm, valued at $39,000, after purchasing an additional 104 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new interest in Discover Financial Services valued at approximately $42,000 during the fourth quarter. West Bancorporation Inc. acquired a new interest in Discover Financial Services for approximately $42,000 during the fourth quarter. Finally, CVA Family Office LLC increased its position in Discover Financial Services by 60.3% during the first quarter. CVA Family Office LLC now owns 465 shares of the financial services firm, valued at $51,000, after purchasing an additional 175 shares during the period. 85.53% of the shares are currently owned by institutional investors and hedge funds.
Analysts set new price targets
Several research companies recently commented on DFS. Morgan Stanley lowered its price target on Discover Financial Services from $111. Wolfe Research lowered Discover Financial Services from an “Outperform” rating to a “Peer Perform” rating and put a price target of $97.00 on the stock. in a research report on Thursday, May 12. Citigroup downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research report Friday, July 22, and lowered its price target for the company to $115.00 from $140.00. BMO Capital Markets lowered its price target on Discover Financial Services to $118.00 from $131.00 and gave the stock a “retain” rating in a research report on Monday, July. Finally, Keefe, Bruyette & Woods lowered their price target for Discover Financial Services from $150.00 to $135.00 in a research report on Monday, July 11. Seven equities research analysts have rated the stock with a hold rating and nine have given it a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $127.00.
Discover the performance of financial services stocks
DFS opened at $100.16 on Wednesday. The company has a market cap of $27.36 billion, a P/E of 6.52, a P/E of 0.22 and a beta of 1.45. The company has a 50-day simple moving average of $101.45 and a 200-day simple moving average of $109.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.43. Discover Financial Services has a 52-week low of $88.02 and a 52-week high of $135.69.
Discover Financial Services (NYSE:DFS – Get Rating) last released its earnings results on Wednesday, July 20th. The financial services firm reported $3.96 EPS for the quarter, beating the consensus estimate of $3.77 by $0.19. The company made $3.22 billion in revenue for the quarter, compared to analysts’ expectations of $3.18 billion. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. Discover Financial Services revenue declined 9.9% compared to the year-ago quarter. In the same quarter last year, the company posted earnings per share of $5.55. As a group, equity analysts are forecasting that Discover Financial Services will post 15.19 EPS for the current fiscal year.
Discover Financial Services Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 25 will receive a dividend of $0.60. The ex-dividend date is Wednesday 24th August. That equates to an annualized dividend of $2.40 and a dividend yield of 2.40%. Discover Financial Services’ dividend payout ratio (DPR) is currently 15.63%.
Discover the financial services profile
Discover Financial Services, through its subsidiaries, provides digital banking products and services and payment services in the United States. It operates through two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover branded credit cards to individuals; personal student loans, personal loans, home loans and other consumer credit; and direct-to-consumer deposit products, which include savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and sweep accounts.
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