Jacobi Capital Management LLC boosted its stake in Discover Financial Services (NYSE:DFS – Get Rating) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,381 shares of the financial services provider’s stock after buying an additional 101 shares during the quarter. Jacobi Capital Management LLC’s holdings in Discover Financial Services were worth $593,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tyler Stone Wealth Management bought a new position in shares of Discover Financial Services during the 4th quarter valued at $27,000. Benjamin Edwards Inc. grew its stake in Discover Financial Services by 43.9% in the 4th quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock valued at $39,000 after buying an additional 104 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Discover Financial Services in the 4th quarter valued at $42,000. West Bancorporation Inc. acquired a new position in Discover Financial Services in the 4th quarter valued at $42,000. Finally, CVA Family Office LLC grew its stake in Discover Financial Services by 60.3% in the 1st quarter. CVA Family Office LLC now owns 465 shares of the financial services provider’s stock valued at $51,000 after buying an additional 175 shares during the last quarter. Institutional investors own 85.53% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently issued reports on DFS shares. Citigroup lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their target price for the company from $140.00 to $115.00 in a research note on Friday, July 22nd. Wolfe Research lowered shares of Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 target price on the stock. in a research note on Thursday, May 12th. Credit Suisse Group lowered their target price on shares of Discover Financial Services to $134.00 in a research note on Friday, July 22nd. Wells Fargo & Company decreased their price target on shares of Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 13th. Finally, Barclays decreased their price target on shares of Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.56.
Discover Financial Services Trading Down 0.0 %
Discover Financial Services (NYSE:DFS – Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.19. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the firm posted $5.55 EPS. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. Research analysts forecast that Discover Financial Services will post 15.21 earnings per share for the current fiscal year.
Discover Financial Services Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 24th. Discover Financial Services’s dividend payout ratio is presently 15.63%.
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.
- Get a free copy of the StockNews.com research report on Discover Financial Services (DFS)
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