Los Angeles Capital Management LLC Has $21.12 Million Stock Position in Discover Financial Services (NYSE:DFS)

Los Angeles Capital Management LLC reduced its position in Discover Financial Services (NYSE:DFS) by 2.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 191,643 shares of the financial services provider’s stock after selling 4,818 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Discover Financial Services worth $21,117,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Tyler Stone Wealth Management acquired a new stake in shares of Discover Financial Services during the 4th quarter worth $27,000. Benjamin Edwards Inc. raised its position in shares of Discover Financial Services by 43.9% during the fourth quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 104 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $42,000. West Bancorporation Inc. acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $42,000. Finally, CVA Family Office LLC grew its stake in Discover Financial Services by 60.3% in the first quarter. CVA Family Office LLC now owns 465 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 175 shares during the period. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on DFS. Piper Sandler raised their price objective on Discover Financial Services to $132.00 in a research note on Friday, July 22nd. Citigroup downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $140.00 to $115.00 in a report on Friday, July 22nd. Credit Suisse Group reduced their target price on shares of Discover Financial Services to $134.00 in a research note on Friday, July 22nd. Morgan Stanley cut their price objective on shares of Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating for the company in a research report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Discover Financial Services from $150.00 to $140.00 in a research report on Friday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.56.

Discover Financial Services Trading Down 0.0 %

NYSE:DFS opened at $102.35 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.43. Discover Financial Services has a 12 month low of $88.02 and a 12 month high of $135.69. The company has a market cap of $27.96 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 0.23 and a beta of 1.45. The company has a 50 day simple moving average of $100.99 and a two-hundred day simple moving average of $109.23.

Discover Financial Services (NYSE:DFSGet Rating) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm posted $5.55 EPS. The firm’s 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 year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.34%. Discover Financial Services’s dividend payout ratio is currently 15.63%.

About Discover Financial Services

(Get Rating)

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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