3,071 Shares in Discover Financial Services (DFS) Purchased by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC purchased a new stake in Discover Financial Services (NYSE:DFS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,071 shares of the financial services provider’s stock, valued at approximately $235,000.

Several other hedge funds also recently bought and sold shares of the company. Bowling Portfolio Management LLC grew its position in shares of Discover Financial Services by 1.7% in the third quarter. Bowling Portfolio Management LLC now owns 38,708 shares of the financial services provider’s stock valued at $2,959,000 after purchasing an additional 664 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Discover Financial Services by 0.9% in the second quarter. Janney Montgomery Scott LLC now owns 83,464 shares of the financial services provider’s stock valued at $5,877,000 after purchasing an additional 708 shares in the last quarter. Azimuth Capital Management LLC grew its position in shares of Discover Financial Services by 0.5% in the second quarter. Azimuth Capital Management LLC now owns 154,100 shares of the financial services provider’s stock valued at $10,850,000 after purchasing an additional 750 shares in the last quarter. Wesbanco Bank Inc. grew its position in shares of Discover Financial Services by 1.5% in the second quarter. Wesbanco Bank Inc. now owns 54,386 shares of the financial services provider’s stock valued at $3,830,000 after purchasing an additional 830 shares in the last quarter. Finally, Sawtooth Solutions LLC grew its position in shares of Discover Financial Services by 20.3% in the second quarter. Sawtooth Solutions LLC now owns 5,110 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 862 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Shares of Discover Financial Services stock opened at $67.92 on Tuesday. The company has a market capitalization of $23.10 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.69 and a beta of 1.51. Discover Financial Services has a fifty-two week low of $63.31 and a fifty-two week high of $81.93. The company has a quick ratio of 1.49, a current ratio of 1.08 and a debt-to-equity ratio of 2.54.



Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 earnings per share for the quarter, hitting the consensus estimate of $2.05. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.69 billion. Discover Financial Services had a return on equity of 25.15% and a net margin of 19.51%. Equities research analysts predict that Discover Financial Services will post 7.84 EPS for the current year.

Discover Financial Services declared that its board has approved a share repurchase program on Thursday, July 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Tuesday, November 20th. Discover Financial Services’s dividend payout ratio (DPR) is 26.76%.

In other Discover Financial Services news, Chairman David W. Nelms sold 30,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $77.16, for a total transaction of $2,314,800.00. Following the transaction, the chairman now directly owns 1,180,798 shares in the company, valued at $91,110,373.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carlos Minetti sold 3,750 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $78.21, for a total value of $293,287.50. Following the transaction, the executive vice president now owns 133,852 shares in the company, valued at $10,468,564.92. The disclosure for this sale can be found here. Insiders have sold 101,250 shares of company stock worth $7,663,313 over the last 90 days. 0.81% of the stock is owned by insiders.

DFS has been the subject of a number of analyst reports. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Wednesday, September 26th. Bank of America upped their price target on Discover Financial Services from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Sandler O’Neill reiterated a “buy” rating and issued a $87.00 price objective on shares of Discover Financial Services in a research report on Friday, July 27th. Finally, Wells Fargo & Co increased their price objective on Discover Financial Services from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 1st. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Discover Financial Services currently has an average rating of “Buy” and an average target price of $86.95.

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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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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