Treasurer of the State of North Carolina Has $11.55 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

Treasurer of the State of North Carolina raised its holdings in Discover Financial Services (NYSE:DFS) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,913 shares of the financial services provider’s stock after acquiring an additional 150 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Discover Financial Services were worth $11,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Landmark Bank raised its position in shares of Discover Financial Services by 0.4% in the second quarter. Landmark Bank now owns 32,284 shares of the financial services provider’s stock valued at $2,505,000 after purchasing an additional 142 shares during the period. Girard Partners LTD. raised its position in shares of Discover Financial Services by 5.0% in the second quarter. Girard Partners LTD. now owns 3,548 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 169 shares during the period. Semmax Financial Advisors Inc. raised its position in shares of Discover Financial Services by 75.6% in the second quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 180 shares during the period. SevenBridge Financial Group LLC raised its position in shares of Discover Financial Services by 5.7% in the second quarter. SevenBridge Financial Group LLC now owns 3,397 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 182 shares during the period. Finally, First Bank & Trust raised its position in shares of Discover Financial Services by 7.6% in the second quarter. First Bank & Trust now owns 3,044 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 85.01% of the company’s stock.

In other Discover Financial Services news, CFO R. Mark Graf sold 4,776 shares of Discover Financial Services stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $92.44, for a total transaction of $441,493.44. Following the sale, the chief financial officer now owns 51,296 shares in the company, valued at $4,741,802.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Edward W. Mcgrogan sold 1,894 shares of Discover Financial Services stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $92.35, for a total transaction of $174,910.90. Following the sale, the senior vice president now owns 11,272 shares in the company, valued at approximately $1,040,969.20. The disclosure for this sale can be found here. Insiders have sold 27,663 shares of company stock worth $2,534,291 in the last quarter. Corporate insiders own 0.81% of the company’s stock.

DFS stock traded up $0.57 on Friday, reaching $77.08. 21,637 shares of the company were exchanged, compared to its average volume of 1,834,016. Discover Financial Services has a 12 month low of $54.36 and a 12 month high of $92.98. The stock’s fifty day moving average price is $81.03 and its 200 day moving average price is $79.34. The firm has a market capitalization of $25.12 billion, a PE ratio of 9.90, a PEG ratio of 1.15 and a beta of 1.61. 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 posted its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.21. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the previous year, the company earned $1.91 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, research analysts expect that Discover Financial Services will post 9.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.44 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.76 dividend on an annualized basis and a yield of 2.28%. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. Discover Financial Services’s payout ratio is currently 22.59%.

A number of research firms have recently commented on DFS. Deutsche Bank reissued a “hold” rating and issued a $87.00 price target on shares of Discover Financial Services in a research report on Monday, July 8th. Bank of America began coverage on shares of Discover Financial Services in a research report on Wednesday, June 19th. They issued a “neutral” rating on the stock. Nomura lifted their price target on shares of Discover Financial Services from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. UBS Group boosted their target price on shares of Discover Financial Services from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley set a $97.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $85.53.

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.

Recommended Story: What is meant by a buy rating?

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

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.