BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Position in Discover Financial Services (NYSE:DFS)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in Discover Financial Services (NYSE:DFS) by 13.0% in the third quarter, Holdings Channel reports. The fund owned 41,806 shares of the financial services provider’s stock after selling 6,264 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Discover Financial Services were worth $5,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DFS. National Pension Service increased its holdings in shares of Discover Financial Services by 14.8% in the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after acquiring an additional 56,814 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new position in Discover Financial Services in the second quarter valued at approximately $4,835,000. Janney Montgomery Scott LLC acquired a new stake in Discover Financial Services during the third quarter worth approximately $2,415,000. Versor Investments LP lifted its position in shares of Discover Financial Services by 21.5% during the 3rd quarter. Versor Investments LP now owns 75,963 shares of the financial services provider’s stock worth $10,657,000 after buying an additional 13,427 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Discover Financial Services by 12.7% in the 3rd quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider’s stock valued at $20,954,000 after buying an additional 16,863 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 1.4 %

DFS stock opened at $179.96 on Tuesday. The stock has a market capitalization of $45.18 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.41. The company has a fifty day moving average of $156.66 and a 200-day moving average of $139.87. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. Discover Financial Services has a one year low of $93.83 and a one year high of $188.26.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the firm earned $2.59 earnings per share. As a group, analysts expect that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.56%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

Analyst Ratings Changes

DFS has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Royal Bank of Canada raised their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Finally, Evercore ISI lifted their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $138.81.

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.