Invesco LLC Makes New Investment in Discover Financial Services (NYSE:DFS)

Invesco LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,531 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other large investors have also recently added to or reduced their stakes in DFS. Partnership Wealth Management LLC bought a new position in Discover Financial Services during the 4th quarter worth about $25,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $31,000. Riverview Trust Co acquired a new position in shares of Discover Financial Services during the 1st quarter worth about $34,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $35,000. Finally, West Paces Advisors Inc. boosted its stake in shares of Discover Financial Services by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock worth $41,000 after buying an additional 166 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DFS shares. Barclays increased their price objective on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday. BMO Capital Markets increased their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday. StockNews.com initiated coverage on shares of Discover Financial Services in a research note on Tuesday. They set a “hold” rating for the company. Finally, Jefferies Financial Group raised their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $131.33.

Discover Financial Services Stock Performance

Discover Financial Services stock traded down $0.22 during trading hours on Tuesday, hitting $139.60. The company had a trading volume of 1,377,578 shares, compared to its average volume of 1,837,538. The firm has a market cap of $35.01 billion, a PE ratio of 15.99, a PEG ratio of 0.98 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.07 and a quick ratio of 1.12. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61. The firm has a 50-day moving average of $127.71 and a 200 day moving average of $121.61.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. 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 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that Discover Financial Services will post 11.77 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.01%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Discover Financial Services Company 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.