Ossiam purchased a new stake in Discover Financial Services (NYSE:DFS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 859 shares of the financial services provider’s stock, valued at approximately $67,000.
Other institutional investors also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC acquired a new position in Discover Financial Services during the first quarter worth $26,000. Weaver Consulting Group acquired a new position in Discover Financial Services during the first quarter worth $28,000. IMA Wealth Inc. boosted its holdings in Discover Financial Services by 1,448.3% during the first quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 420 shares during the last quarter. Semmax Financial Advisors Inc. boosted its holdings in Discover Financial Services by 75.6% during the second quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 180 shares during the last quarter. Finally, Next Capital Management LLC acquired a new position in Discover Financial Services during the second quarter worth $34,000. Institutional investors own 85.04% of the company’s stock.
DFS has been the subject of several recent research reports. Bank of America initiated coverage on shares of Discover Financial Services in a report on Wednesday, June 19th. They set a “neutral” rating for the company. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Monday. Barclays increased their target price on shares of Discover Financial Services from $87.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Nomura increased their target price on shares of Discover Financial Services from $86.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Co upped their price target on shares of Discover Financial Services from $82.00 to $88.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $85.53.
NYSE DFS traded up $0.52 on Friday, hitting $85.02. 402,955 shares of the stock were exchanged, compared to its average volume of 1,578,364. The company has a market capitalization of $27.14 billion, a PE ratio of 10.91, a P/E/G ratio of 1.23 and a beta of 1.60. The business’s fifty day moving average is $83.20 and its 200 day moving average is $78.19. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $92.98. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.33 and a quick ratio of 1.33.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.21. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.81 billion. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 earnings per share. Analysts predict that Discover Financial Services will post 9.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a $0.44 dividend. The ex-dividend date was Wednesday, August 21st. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 2.07%. Discover Financial Services’s dividend payout ratio is presently 22.59%.
About Discover Financial Services
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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