Discover Financial Services (DFS) Holdings Lifted by Landmark Bank

Landmark Bank grew its position in Discover Financial Services (NYSE:DFS) by 22.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,786 shares of the financial services provider’s stock after purchasing an additional 6,186 shares during the period. Landmark Bank’s holdings in Discover Financial Services were worth $1,993,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital World Investors boosted its holdings in shares of Discover Financial Services by 2.8% during the third quarter. Capital World Investors now owns 14,395,380 shares of the financial services provider’s stock worth $1,100,527,000 after purchasing an additional 393,987 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Discover Financial Services by 2.6% during the third quarter. Primecap Management Co. CA now owns 12,542,195 shares of the financial services provider’s stock worth $958,851,000 after purchasing an additional 318,299 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Discover Financial Services by 0.5% during the third quarter. Bessemer Group Inc. now owns 3,971,419 shares of the financial services provider’s stock worth $303,614,000 after purchasing an additional 20,522 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Discover Financial Services by 7.4% during the third quarter. Bank of New York Mellon Corp now owns 3,961,303 shares of the financial services provider’s stock worth $302,841,000 after purchasing an additional 272,970 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Discover Financial Services by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 3,717,616 shares of the financial services provider’s stock worth $284,212,000 after purchasing an additional 39,555 shares during the period. Institutional investors own 85.92% of the company’s stock.

In other news, EVP Carlos Minetti sold 3,750 shares of Discover Financial Services stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $69.79, for a total value of $261,712.50. Following the transaction, the executive vice president now owns 126,352 shares of the company’s stock, valued at $8,818,106.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Cynthia A. Glassman sold 2,000 shares of Discover Financial Services stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $69.50, for a total transaction of $139,000.00. Following the completion of the transaction, the director now directly owns 54,032 shares in the company, valued at approximately $3,755,224. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,350 shares of company stock worth $4,985,938. Insiders own 0.81% of the company’s stock.



Several research firms recently commented on DFS. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Wednesday, September 26th. JPMorgan Chase & Co. upgraded shares of Discover Financial Services from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 2nd. Wells Fargo & Co raised their price target on shares of Discover Financial Services from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Monday, October 1st. Finally, ValuEngine upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $86.17.

DFS traded up $0.04 during midday trading on Wednesday, hitting $66.16. 2,221,724 shares of the company’s stock traded hands, compared to its average volume of 2,358,628. The firm has a market cap of $22.30 billion, a PE ratio of 11.06, a PEG ratio of 0.62 and a beta of 1.56. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.48 and a current ratio of 1.48. Discover Financial Services has a one year low of $54.36 and a one year high of $81.93.

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, meeting the consensus estimate of $2.05. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.69 billion. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%. On average, sell-side analysts anticipate that Discover Financial Services will post 7.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.42%. The ex-dividend date is Wednesday, February 20th. Discover Financial Services’s payout ratio is presently 26.76%.

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Discover Financial Services 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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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).

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

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