Jacobi Capital Management LLC boosted its position in Discover Financial Services (NYSE:DFS – Get Rating) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in Discover Financial Services by 7.3% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,565 shares of the financial services provider’s stock worth $3,532,000 after purchasing an additional 2,091 shares during the last quarter. Greenleaf Trust grew its position in Discover Financial Services by 15.4% in the 1st quarter. Greenleaf Trust now owns 4,334 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 579 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Discover Financial Services by 0.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,299,737 shares of the financial services provider’s stock worth $150,197,000 after purchasing an additional 10,603 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Discover Financial Services in the 4th quarter worth $85,000. Finally, Nomura Asset Management Co. Ltd. grew its position in Discover Financial Services by 1.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 64,836 shares of the financial services provider’s stock worth $7,492,000 after purchasing an additional 1,224 shares during the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Discover Financial Services from $150.00 to $135.00 in a research report on Monday, July 11th. Barclays decreased their target price 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. Citigroup lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating and decreased their target price for the company from $140.00 to $115.00 in a research report on Friday, July 22nd. Wells Fargo & Company decreased their target price 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, Wolfe Research downgraded shares of Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 price target for the company. in a report on Thursday, May 12th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services presently has an average 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 issued its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.19. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.55 earnings per share. On average, sell-side analysts anticipate that Discover Financial Services will post 15.21 earnings per share for the current year.
Discover Financial Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 24th. Discover Financial Services’s 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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