CIBC Private Wealth Group LLC Lowers Stock Position in Discover Financial Services (NYSE:DFS)

CIBC Private Wealth Group LLC cut its position in shares of Discover Financial Services (NYSE:DFSFree Report) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,486 shares of the financial services provider’s stock after selling 311 shares during the period. CIBC Private Wealth Group LLC’s holdings in Discover Financial Services were worth $2,752,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new stake in Discover Financial Services during the fourth quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in Discover Financial Services during the fourth quarter valued at $28,000. MeadowBrook Investment Advisors LLC purchased a new position in Discover Financial Services during the fourth quarter valued at $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in Discover Financial Services during the fourth quarter valued at $35,000. Finally, Anchor Investment Management LLC purchased a new position in Discover Financial Services during the fourth quarter valued at $42,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DFS has been the topic of several recent analyst reports. BTIG Research initiated coverage on shares of Discover Financial Services in a report on Friday. They set a “neutral” rating on the stock. Barclays increased their price objective on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. Wolfe Research reaffirmed a “peer perform” rating on shares of Discover Financial Services in a report on Wednesday, February 21st. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Finally, StockNews.com started coverage on shares of Discover Financial Services in a report on Wednesday. They set a “hold” rating on the stock. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and an average price target of $126.29.

View Our Latest Research Report on Discover Financial Services

Discover Financial Services Price Performance

Discover Financial Services stock opened at $125.01 on Friday. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The stock has a market cap of $31.33 billion, a P/E ratio of 14.25, a PEG ratio of 0.74 and a beta of 1.41. The company has a 50-day moving average price of $124.39 and a 200 day moving average price of $115.29. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFSGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same quarter in the previous year, the business posted $3.58 earnings per share. Sell-side analysts anticipate that Discover Financial Services will post 11.48 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were 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 of this dividend was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

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.

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

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