Verity & Verity LLC Boosts Holdings in Discover Financial Services (NYSE:DFS)

Verity & Verity LLC lifted its stake in Discover Financial Services (NYSE:DFS) by 152.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,044 shares of the financial services provider’s stock after buying an additional 2,440 shares during the quarter. Verity & Verity LLC’s holdings in Discover Financial Services were worth $529,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Opal Wealth Advisors LLC purchased a new position in shares of Discover Financial Services during the second quarter valued at about $26,000. Y.D. More Investments Ltd increased its stake in Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Discover Financial Services in the first quarter valued at $34,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 2.8 %

NYSE DFS opened at $136.42 on Wednesday. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61. The firm has a market cap of $34.21 billion, a PE ratio of 15.56, a P/E/G ratio of 0.94 and a beta of 1.42. The business’s fifty day simple moving average is $134.43 and its 200-day simple moving average is $129.45. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28.

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

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Royal Bank of Canada increased their price target on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Jefferies Financial Group boosted their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. BTIG Research began coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $132.94.

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.