Discover Financial Services (NYSE:DFS) is LB Partners LLC’s 5th Largest Position

LB Partners LLC raised its position in Discover Financial Services (NYSE:DFS) by 27.5% during the third quarter, Holdings Channel reports. The firm owned 46,350 shares of the financial services provider’s stock after buying an additional 10,000 shares during the quarter. Discover Financial Services comprises 5.6% of LB Partners LLC’s portfolio, making the stock its 5th largest holding. LB Partners LLC’s holdings in Discover Financial Services were worth $6,502,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Elser Financial Planning Inc acquired a new stake in Discover Financial Services during the 2nd quarter worth approximately $91,044,000. Magnetar Financial LLC purchased a new position in Discover Financial Services in the first quarter valued at $71,693,000. Samlyn Capital LLC grew its stake in Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after purchasing an additional 508,504 shares in the last quarter. M&G Plc purchased a new stake in Discover Financial Services during the 1st quarter worth about $62,829,000. Finally, National Bank of Canada FI raised its position in Discover Financial Services by 430.5% in the 1st quarter. National Bank of Canada FI now owns 443,707 shares of the financial services provider’s stock valued at $54,752,000 after purchasing an additional 360,074 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock traded down $2.55 during trading hours on Monday, hitting $146.13. 642,757 shares of the company were exchanged, compared to its average volume of 1,622,613. The business has a 50-day moving average of $137.08 and a 200-day moving average of $131.08. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $152.90. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $36.65 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 0.94 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. During the same quarter in the previous year, the firm earned $2.59 earnings per share. As a group, analysts expect that Discover Financial Services will post 13.15 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s payout ratio is 31.93%.

Wall Street Analysts Forecast Growth

DFS has been the topic of several analyst reports. BMO Capital Markets raised their target price on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Royal Bank of Canada lifted their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday. Wells Fargo & Company increased their price objective on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Barclays boosted their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average price target of $136.12.

About Discover Financial Services

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; 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.