Discover Financial Services (NYSE:DFS) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp cut its position in Discover Financial Services (NYSE:DFS) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,673 shares of the financial services provider’s stock after selling 254 shares during the quarter. Hancock Whitney Corp’s holdings in Discover Financial Services were worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Partnership Wealth Management LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth $31,000. Riverview Trust Co acquired a new position in shares of Discover Financial Services during the first quarter worth $34,000. Turtle Creek Wealth Advisors LLC purchased a new position in Discover Financial Services in the fourth quarter valued at $35,000. Finally, West Paces Advisors Inc. raised its stake in Discover Financial Services by 110.7% in the first quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock valued at $41,000 after buying an additional 166 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Trading Down 5.2 %

DFS traded down $7.47 during midday trading on Thursday, hitting $136.52. The company’s stock had a trading volume of 411,574 shares, compared to its average volume of 1,798,929. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $147.61. The firm has a 50-day moving average price of $130.10 and a two-hundred day moving average price of $123.05. The firm has a market cap of $34.24 billion, a P/E ratio of 16.42, a PEG ratio of 0.96 and a beta of 1.44. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a return on equity of 20.53% and a net margin of 12.88%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted $3.54 EPS. On average, research analysts anticipate that Discover Financial Services will post 12.23 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Analyst Ratings Changes

DFS has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. BTIG Research started coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Jefferies Financial Group upped their target price on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets lifted their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $131.33.

Discover Financial Services Company 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.