Kestra Private Wealth Services LLC Acquires 399 Shares of Discover Financial Services (NYSE:DFS)

Kestra Private Wealth Services LLC grew its holdings in shares of Discover Financial Services (NYSE:DFSGet Rating) by 3.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,857 shares of the financial services provider’s stock after buying an additional 399 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Discover Financial Services were worth $1,306,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Discover Financial Services by 49.0% in the first quarter. EverSource Wealth Advisors LLC now owns 3,154 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 1,037 shares during the period. M Holdings Securities Inc. purchased a new stake in shares of Discover Financial Services in the first quarter valued at approximately $381,000. Advisory Services Network LLC boosted its holdings in shares of Discover Financial Services by 2.4% in the first quarter. Advisory Services Network LLC now owns 7,168 shares of the financial services provider’s stock valued at $789,000 after purchasing an additional 168 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Discover Financial Services by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 52,120 shares of the financial services provider’s stock valued at $5,755,000 after purchasing an additional 1,856 shares during the period. Finally, Toroso Investments LLC boosted its holdings in shares of Discover Financial Services by 3.1% in the first quarter. Toroso Investments LLC now owns 3,299 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 83.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DFS shares. Barclays lowered their price target on Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating for the company in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Discover Financial Services from $150.00 to $140.00 in a report on Friday, July 22nd. Bank of America lowered their target price on Discover Financial Services from $128.00 to $120.00 in a report on Sunday, July 24th. Keefe, Bruyette & Woods lowered their target price on Discover Financial Services from $150.00 to $135.00 in a report on Monday, July 11th. Finally, Citigroup lowered Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $140.00 to $115.00 in a report on Friday, July 22nd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.75.

Discover Financial Services Price Performance

NYSE DFS opened at $100.91 on Friday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s fifty day moving average price is $102.70 and its 200 day moving average price is $105.87. Discover Financial Services has a 1 year low of $88.02 and a 1 year high of $133.40. The company has a market cap of $27.57 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.22 and a beta of 1.43.

Discover Financial Services (NYSE:DFSGet Rating) last released its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.19. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. The firm’s revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.55 EPS. As a group, equities research analysts forecast that Discover Financial Services will post 15.35 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.38%. The ex-dividend date was Wednesday, August 24th. Discover Financial Services’s dividend payout ratio is currently 15.63%.

Discover Financial Services Profile

(Get Rating)

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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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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