[ad_1]
People s United Financial Inc. trimmed its position in shares of Discover Financial Services (NYSE:DFS) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,674 shares of the financial services provider’s stock after selling 123 shares during the period. People s United Financial Inc.’s holdings in Discover Financial Services were worth $295,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Discover Financial Services by 2.3% during the fourth quarter. BlackRock Inc. now owns 20,610,036 shares of the financial services provider’s stock valued at $2,381,696,000 after acquiring an additional 457,067 shares during the period. State Street Corp lifted its holdings in Discover Financial Services by 2.1% during the fourth quarter. State Street Corp now owns 13,584,398 shares of the financial services provider’s stock worth $1,569,813,000 after acquiring an additional 275,094 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Discover Financial Services by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 6,364,472 shares of the financial services provider’s stock worth $734,302,000 after acquiring an additional 360,707 shares in the last quarter. Boston Partners lifted its holdings in Discover Financial Services by 1.9% during the first quarter. Boston Partners now owns 4,429,052 shares of the financial services provider’s stock worth $488,027,000 after acquiring an additional 81,406 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Discover Financial Services by 0.4% in the fourth quarter. Northern Trust Corp now owns 3,483,170 shares of the financial services provider’s stock valued at $402,515,000 after purchasing an additional 12,843 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on DFS shares. Barclays dropped their target price on Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday, July 22nd. Keefe, Bruyette & Woods lowered their price target on Discover Financial Services from $150.00 to $135.00 in a research report on Monday, July 11th. Wells Fargo & Company lowered their price target on Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Credit Suisse Group decreased their target price on Discover Financial Services to $134.00 in a research report on Friday, July 22nd. Finally, Piper Sandler upped their target price on Discover Financial Services to $132.00 in a research report on Friday, July 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Discover Financial Services has a consensus rating of “Moderate Buy” and an average price target of $127.56.
Discover Financial Services Stock Down 1.4 %
NYSE DFS opened at $106.91 on Friday. The business has a fifty day moving average price of $100.50 and a two-hundred day moving average price of $108.62. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.26 and a quick ratio of 1.26. Discover Financial Services has a fifty-two week low of $88.02 and a fifty-two week high of $133.78. The stock has a market capitalization of $29.20 billion, a PE ratio of 6.96, a PEG ratio of 0.24 and a beta of 1.45.
Discover Financial Services (NYSE:DFS – Get Rating) last released its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.19. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the company earned $5.55 earnings per share. The company’s quarterly revenue was down 9.9% on a year-over-year basis. Equities analysts expect that Discover Financial Services will post 15.32 earnings per share for the current fiscal year.
Discover Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, August 24th. Discover Financial Services’s payout ratio is presently 15.63%.
About Discover Financial Services
(Get Rating)
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.
Featured Articles
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.
[ad_2]
Source link
