Discover Financial Services (NYSE:DFS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,361 shares of the financial services provider’s stock after selling 664 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Discover Financial Services were worth $4,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp increased its holdings in Discover Financial Services by 24.4% in the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after buying an additional 76 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Discover Financial Services by 3.1% during the 1st quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 86 shares in the last quarter. Optas LLC lifted its stake in Discover Financial Services by 4.3% during the second quarter. Optas LLC now owns 2,147 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 89 shares during the last quarter. Team Hewins LLC boosted its holdings in Discover Financial Services by 5.5% in the first quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 98 shares during the period. Finally, Wealthspire Advisors LLC increased its stake in Discover Financial Services by 3.3% during the fourth quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 99 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on DFS shares. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. StockNews.com began coverage on Discover Financial Services in a research note on Sunday. They issued a “hold” rating for the company. Barclays increased their price target on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Jefferies Financial Group raised their price target on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $132.94.

Discover Financial Services Trading Up 0.8 %

Shares of NYSE:DFS opened at $138.71 on Monday. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The firm has a market cap of $34.79 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.96 and a beta of 1.43. The company has a 50 day moving average of $133.27 and a 200-day moving average of $127.06. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period last year, the firm earned $3.54 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts anticipate that Discover Financial Services will post 12.75 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s payout ratio is 31.93%.

Discover Financial Services 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.