Van ECK Associates Corp Acquires 12,011 Shares of Discover Financial Services (NYSE:DFS)

Van ECK Associates Corp increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 47.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,117 shares of the financial services provider’s stock after acquiring an additional 12,011 shares during the period. Van ECK Associates Corp’s holdings in Discover Financial Services were worth $4,172,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in DFS. Bruce G. Allen Investments LLC bought a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $35,000. First Command Advisory Services Inc. bought a new stake in Discover Financial Services in the third quarter worth $39,000. Larson Financial Group LLC raised its stake in Discover Financial Services by 105.8% during the third quarter. Larson Financial Group LLC now owns 465 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 239 shares in the last quarter. Finally, Macroview Investment Management LLC bought a new position in Discover Financial Services during the third quarter valued at $41,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

Shares of DFS stock opened at $125.04 on Monday. The company has a market cap of $31.34 billion, a P/E ratio of 14.26, a PEG ratio of 0.74 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.13. The stock’s 50-day moving average is $124.41 and its 200 day moving average is $108.71. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $131.65.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the prior year, the business posted $3.58 earnings per share. Research analysts predict that Discover Financial Services will post 11.86 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s payout ratio is presently 31.93%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DFS. Barclays increased their price target on Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating on the stock in a report on Friday, January 19th. Citigroup lifted their price objective on shares of Discover Financial Services from $127.00 to $168.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Jefferies Financial Group boosted their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, BMO Capital Markets reduced their target price on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $126.29.

Discover Financial Services Company Profile

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.