Discover Financial Services (NYSE:DFS) Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its stake in shares of Discover Financial Services (NYSE:DFSFree Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,000 shares of the financial services provider’s stock after buying an additional 187 shares during the period. Whittier Trust Co.’s holdings in Discover Financial Services were worth $225,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $340,672,000. Boston Partners boosted its position in shares of Discover Financial Services by 56.5% during the 3rd quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock valued at $743,663,000 after purchasing an additional 3,102,119 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Discover Financial Services by 489.5% during 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 purchasing an additional 1,660,180 shares in the last quarter. Morgan Stanley boosted its position in shares of Discover Financial Services by 35.6% during the 4th quarter. Morgan Stanley now owns 4,927,342 shares of the financial services provider’s stock valued at $482,042,000 after purchasing an additional 1,293,260 shares in the last quarter. Finally, Palestra Capital Management LLC bought a new position in shares of Discover Financial Services during the 3rd quarter valued at about $81,865,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Insider Activity

In other news, CFO John Greene sold 35,191 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the sale, the chief financial officer now owns 18,592 shares in the company, valued at approximately $1,980,233.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

Discover Financial Services Trading Down 0.4 %

Shares of DFS stock opened at $125.25 on Tuesday. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $127.90. The firm’s fifty day simple moving average is $114.02 and its 200 day simple moving average is $100.95. The firm has a market capitalization of $31.38 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49.

Discover Financial Services (NYSE:DFSGet Free Report) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the firm earned $3.77 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts predict that Discover Financial Services will post 11.13 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. Discover Financial Services’s dividend payout ratio is presently 24.89%.

Analysts Set New Price Targets

DFS has been the subject of several research reports. Bank of America upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price objective for the company from $94.00 to $116.00 in a research report on Wednesday, December 6th. Barclays decreased their target price on shares of Discover Financial Services from $124.00 to $112.00 and set an “equal weight” rating for the company in a report on Friday, January 19th. StockNews.com began coverage on shares of Discover Financial Services in a report on Monday. They set a “hold” rating for the company. Wolfe Research restated a “peer perform” rating on shares of Discover Financial Services in a report on Wednesday, February 21st. Finally, Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $121.83.

Check Out Our Latest Report on Discover Financial Services

About Discover Financial Services

(Free Report)

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

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.