B. Riley Wealth Advisors Inc. Has $575,000 Stock Position in Discover Financial Services (NYSE:DFS)

B. Riley Wealth Advisors Inc. cut its stake in shares of Discover Financial Services (NYSE:DFS) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,129 shares of the financial services provider’s stock after selling 412 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Discover Financial Services were worth $575,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DFS. DiNuzzo Private Wealth Inc. boosted its holdings in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after buying an additional 157 shares during the last quarter. Y.D. More Investments Ltd raised its position in shares of Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Discover Financial Services during the third quarter valued at approximately $30,000. Finally, Larson Financial Group LLC increased its stake in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Trading Down 3.2 %

Shares of NYSE:DFS opened at $168.26 on Thursday. The company’s 50-day moving average price is $166.22 and its two-hundred day moving average price is $144.57. Discover Financial Services has a one year low of $96.46 and a one year high of $188.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. The stock has a market capitalization of $42.25 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 1.13 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter in the prior year, the company posted $2.59 earnings per share. On average, equities analysts forecast that Discover Financial Services will post 13.43 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.66%. Discover Financial Services’s dividend payout ratio is presently 22.60%.

Wall Street Analyst Weigh In

DFS has been the topic of a number of recent analyst reports. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada lifted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods lifted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Evercore ISI increased their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $149.57.

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.