AdvisorNet Financial Inc Sells 143 Shares of Discover Financial Services (NYSE:DFS)

AdvisorNet Financial Inc cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,874 shares of the financial services provider’s stock after selling 143 shares during the period. AdvisorNet Financial Inc’s holdings in Discover Financial Services were worth $745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in DFS. Prudential PLC bought a new stake in shares of Discover Financial Services during the fourth quarter worth about $851,000. MAI Capital Management increased its position in shares of Discover Financial Services by 25.2% during the fourth quarter. MAI Capital Management now owns 2,206 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 444 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Discover Financial Services by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,589,834 shares of the financial services provider’s stock worth $183,722,000 after acquiring an additional 11,924 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Discover Financial Services by 42.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,380 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 1,603 shares in the last quarter. Finally, PFS Investments Inc. increased its position in shares of Discover Financial Services by 8.5% during the fourth quarter. PFS Investments Inc. now owns 32,350 shares of the financial services provider’s stock worth $3,738,000 after acquiring an additional 2,528 shares in the last quarter. 83.92% of the stock is owned by institutional investors.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $100.91 on Friday. The firm’s 50 day moving average is $102.72 and its 200 day moving average is $105.78. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $27.57 billion, a P/E ratio of 6.57, a PEG ratio of 0.22 and a beta of 1.43. Discover Financial Services has a 12 month low of $88.02 and a 12 month high of $133.40.

Discover Financial Services (NYSE:DFSGet Rating) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.19. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. Discover Financial Services’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.55 EPS. On average, sell-side analysts anticipate that Discover Financial Services will post 15.35 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company 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. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.40 annualized dividend and a yield of 2.38%. Discover Financial Services’s payout ratio is currently 15.63%.

Analyst Ratings Changes

Several research firms recently weighed in on DFS. Citigroup cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $115.00 in a report on Friday, July 22nd. Credit Suisse Group cut their price target on shares of Discover Financial Services to $134.00 in a report on Friday, July 22nd. Piper Sandler boosted their price target on shares of Discover Financial Services to $132.00 in a report on Friday, July 22nd. Bank of America cut their price target on shares of Discover Financial Services from $128.00 to $120.00 in a report on Sunday, July 24th. Finally, JPMorgan Chase & Co. cut shares of Discover Financial Services from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $140.00 to $113.00 in a research note on Tuesday, September 6th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.75.

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.

Recommended Stories

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSGet Rating).

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.