FDx Advisors Inc. lowered its stake in Discover Financial Services (NYSE:DFS) by 63.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,160 shares of the financial services provider’s stock after selling 5,579 shares during the quarter. FDx Advisors Inc.’s holdings in Discover Financial Services were worth $348,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Tyler Stone Wealth Management bought a new stake in Discover Financial Services during the 4th quarter valued at approximately $27,000. Widmann Financial Services Inc. bought a new stake in Discover Financial Services during the 4th quarter valued at approximately $35,000. Benjamin Edwards Inc. raised its stake in Discover Financial Services by 43.9% during the 4th quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 104 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Discover Financial Services during the 4th quarter valued at approximately $42,000. Finally, West Bancorporation Inc. bought a new stake in Discover Financial Services during the 4th quarter valued at approximately $42,000. Institutional investors own 85.53% of the company’s stock.
Discover Financial Services Price Performance
Shares of Discover Financial Services stock opened at $99.48 on Friday. The stock has a market cap of $27.95 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 0.22 and a beta of 1.48. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.26 and a current ratio of 1.09. The stock has a 50 day moving average price of $101.71 and a 200-day moving average price of $110.30. Discover Financial Services has a one year low of $88.02 and a one year high of $135.69.
Discover Financial Services (NYSE:DFS – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.19. Discover Financial Services had a return on equity of 35.59% and a net margin of 34.89%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the business earned $5.55 EPS. Discover Financial Services’s revenue was down 9.9% compared to the same quarter last year. Equities analysts expect that Discover Financial Services will post 15.19 EPS for the current year.
Discover Financial Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 25th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 24th. Discover Financial Services’s payout ratio is currently 15.63%.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Credit Suisse Group decreased their target price on Discover Financial Services to $134.00 in a research note on Friday, July 22nd. BMO Capital Markets decreased their target price on Discover Financial Services from $131.00 to $118.00 and set a “maintains” rating on the stock in a research note on Monday. Morgan Stanley cut their price target on Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating for the company in a report on Friday, July 22nd. Citigroup cut Discover Financial Services from a “buy” rating to a “neutral” rating and cut their price target for the company from $140.00 to $115.00 in a report on Friday, July 22nd. Finally, Wells Fargo & Company cut their price target on Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.00.
About Discover Financial Services
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; private student loans, 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.
Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS – Get Rating).
Receive News & Ratings for Discover Financial Services Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Discover Financial Services and related companies with MarketBeat.com’s FREE daily email newsletter.