Amalgamated Bank Sells 887 Shares of Discover Financial Services (NYSE:DFS)

Amalgamated Bank cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,600 shares of the financial services provider’s stock after selling 887 shares during the period. Amalgamated Bank’s holdings in Discover Financial Services were worth $8,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DFS. Norges Bank bought a new stake in Discover Financial Services during the fourth quarter worth $354,824,000. First Trust Advisors LP lifted its stake in shares of Discover Financial Services by 489.5% in the 1st quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock valued at $220,307,000 after acquiring an additional 1,660,180 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Discover Financial Services by 43.8% in the 4th quarter. Invesco Ltd. now owns 2,099,589 shares of the financial services provider’s stock valued at $242,629,000 after acquiring an additional 639,624 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Discover Financial Services by 2.3% in the 4th quarter. BlackRock Inc. now owns 20,610,036 shares of the financial services provider’s stock valued at $2,381,696,000 after acquiring an additional 457,067 shares during the last quarter. Finally, Polaris Wealth Advisory Group LLC bought a new position in shares of Discover Financial Services in the 1st quarter valued at $39,524,000. 83.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Credit Suisse Group dropped their price target on Discover Financial Services to $134.00 in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price target on Discover Financial Services from $150.00 to $140.00 in a research note on Friday, July 22nd. Wells Fargo & Company decreased their price objective on Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. Barclays decreased their price objective 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. Finally, Morgan Stanley decreased their price objective on Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating for the company in a report on Friday, July 22nd. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services has a consensus rating of “Moderate Buy” and a consensus price target of $125.75.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $100.91 on Friday. 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 business has a 50-day moving average price of $102.72 and a two-hundred day moving average price of $105.78. The company has a market cap 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 1-year low of $88.02 and a 1-year high of $133.40.

Discover Financial Services (NYSE:DFSGet Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 EPS for the quarter, beating the consensus estimate of $3.77 by $0.19. The company had revenue of $3.22 billion during 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 for the quarter was down 9.9% compared to the same quarter last year. During the same period last year, the business posted $5.55 EPS. As a group, analysts anticipate that Discover Financial Services will post 15.35 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.40 annualized dividend and a dividend yield of 2.38%. Discover Financial Services’s dividend payout ratio is presently 15.63%.

Discover Financial Services Company 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.

Featured 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.