Thompson Investment Management Inc. Lowers Holdings in Discover Financial Services (NYSE:DFS)

Thompson Investment Management Inc. decreased its stake in Discover Financial Services (NYSE:DFS) by 0.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,382 shares of the financial services provider’s stock after selling 94 shares during the quarter. Thompson Investment Management Inc.’s holdings in Discover Financial Services were worth $7,653,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DFS. Ontario Teachers Pension Plan Board acquired a new position in Discover Financial Services in the 3rd quarter worth about $421,000. Northern Trust Corp raised its holdings in Discover Financial Services by 0.8% in the 3rd quarter. Northern Trust Corp now owns 2,578,053 shares of the financial services provider’s stock worth $223,337,000 after purchasing an additional 20,333 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in Discover Financial Services by 70.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,723 shares of the financial services provider’s stock worth $149,000 after purchasing an additional 712 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Discover Financial Services by 3.5% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,341 shares of the financial services provider’s stock worth $636,000 after purchasing an additional 250 shares during the period. Finally, Jacobi Capital Management LLC raised its holdings in Discover Financial Services by 6.9% in the 3rd quarter. Jacobi Capital Management LLC now owns 5,910 shares of the financial services provider’s stock worth $512,000 after purchasing an additional 379 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 0.8 %

Shares of DFS traded down $1.05 during midday trading on Wednesday, hitting $125.37. 754,306 shares of the stock were exchanged, compared to its average volume of 1,868,384. The firm has a market cap of $31.44 billion, a P/E ratio of 14.40, a P/E/G ratio of 0.77 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65. The stock has a fifty day simple moving average of $124.60 and a 200 day simple moving average of $118.38.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the previous year, the business posted $3.58 earnings per share. On average, research analysts anticipate that Discover Financial Services will post 11.46 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DFS. HSBC increased their target price on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Barclays increased their target price on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. StockNews.com began coverage on Discover Financial Services in a report on Friday, June 21st. They set a “hold” rating for the company. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. increased their price target on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Profile

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.