First Citizens Bank & Trust Co. Makes New Investment in Discover Financial Services (NYSE:DFS)

First Citizens Bank & Trust Co. acquired a new position in shares of Discover Financial Services (NYSE:DFS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,919 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also modified their holdings of DFS. Prudential PLC grew its holdings in shares of Discover Financial Services by 127.4% during the first quarter. Prudential PLC now owns 16,749 shares of the financial services provider’s stock worth $1,846,000 after buying an additional 9,382 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Discover Financial Services by 8.8% during the first quarter. Cetera Investment Advisers now owns 14,977 shares of the financial services provider’s stock worth $1,650,000 after buying an additional 1,216 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Discover Financial Services by 33.8% during the first quarter. Sequoia Financial Advisors LLC now owns 4,372 shares of the financial services provider’s stock worth $482,000 after buying an additional 1,104 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Discover Financial Services by 0.8% during the first quarter. Baird Financial Group Inc. now owns 27,565 shares of the financial services provider’s stock worth $3,038,000 after buying an additional 206 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Discover Financial Services by 5.2% during the first quarter. Loomis Sayles & Co. L P now owns 2,961 shares of the financial services provider’s stock valued at $326,000 after purchasing an additional 146 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO John Greene sold 35,191 shares of Discover Financial Services stock in a transaction on Friday, January 26th. The stock was sold at an average price of $106.51, for a total value of $3,748,193.41. Following the transaction, 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 SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $126.89 on Thursday. The stock’s fifty day moving average price is $117.53 and its two-hundred day moving average price is $102.87. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $31.79 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45.

Discover Financial Services (NYSE:DFSGet Free Report) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.54 EPS 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 company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the business earned $3.77 EPS. Discover Financial Services’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts expect that Discover Financial Services will post 11.44 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.80 dividend on an annualized basis and a yield of 2.21%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.89%.

Analyst Ratings Changes

Several research analysts recently commented on DFS shares. The Goldman Sachs Group reduced their price target on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, January 19th. Barclays reduced their price target on Discover Financial Services from $124.00 to $112.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. Citigroup increased their price target on Discover Financial Services from $127.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. StockNews.com started coverage on Discover Financial Services in a research report on Tuesday. They set a “hold” rating for the company. Finally, Bank of America raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $94.00 to $116.00 in a research report on Wednesday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and an average target price of $124.18.

Check Out Our Latest Stock Analysis on Discover Financial Services

Discover Financial Services Company Profile

(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.

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

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