Stephens Inc. AR trimmed its stake in shares of Discover Financial Services (NYSE:DFS) by 2.7% during the first quarter, Holdings Channel reports. The firm owned 5,936 shares of the financial services provider’s stock after selling 164 shares during the period. Stephens Inc. AR’s holdings in Discover Financial Services were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in DFS. Tyler Stone Wealth Management acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $27,000. Benjamin Edwards Inc. increased its position in Discover Financial Services by 43.9% in the 4th quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 104 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Discover Financial Services in the 4th quarter valued at approximately $42,000. West Bancorporation Inc. acquired a new stake in Discover Financial Services in the 4th quarter valued at approximately $42,000. Finally, CVA Family Office LLC increased its position in Discover Financial Services by 60.3% in the 1st quarter. CVA Family Office LLC now owns 465 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 175 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently commented on DFS. Morgan Stanley lowered their target price on Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Friday, July 22nd. Wolfe Research cut Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 target price on the stock. in a research report on Thursday, May 12th. Citigroup cut Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $115.00 in a research report on Friday, July 22nd. BMO Capital Markets lowered their price target on Discover Financial Services from $131.00 to $118.00 and set a “maintains” rating on the stock in a research report on Monday, July 25th. Finally, Keefe, Bruyette & Woods lowered their price target on Discover Financial Services from $150.00 to $135.00 in a research report on Monday, July 11th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $127.00.
Discover Financial Services Stock Performance
Discover Financial Services (NYSE:DFS – Get Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 EPS for the quarter, topping the consensus estimate of $3.77 by $0.19. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. Discover Financial Services’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $5.55 earnings per share. As a group, equities analysts predict that Discover Financial Services will post 15.19 EPS for the current fiscal year.
Discover Financial Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th will be given a $0.60 dividend. The ex-dividend date is Wednesday, August 24th. This represents a $2.40 annualized dividend and a dividend yield of 2.40%. Discover Financial Services’s dividend payout ratio (DPR) is presently 15.63%.
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.
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