Delap Wealth Advisory LLC Makes New $205,000 Investment in Discover Financial Services (NYSE:DFS)

Delap Wealth Advisory LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,562 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Partnership Wealth Management LLC purchased a new stake in Discover Financial Services in the 4th quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $31,000. Riverview Trust Co purchased a new stake in shares of Discover Financial Services in the 1st quarter valued at approximately $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $35,000. Finally, West Paces Advisors Inc. raised its stake in shares of Discover Financial Services by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock traded up $0.97 on Friday, hitting $142.59. The stock had a trading volume of 291,258 shares, compared to its average volume of 1,821,321. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $147.61. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market cap of $35.76 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 0.93 and a beta of 1.44. The company’s 50 day moving average price is $128.62 and its 200 day moving average price is $122.07.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating the consensus estimate of $3.06 by $3.00. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a return on equity of 20.53% and a net margin of 12.88%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.54 EPS. On average, research analysts anticipate that Discover Financial Services will post 12.23 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analysts Set New Price Targets

DFS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Royal Bank of Canada raised their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Jefferies Financial Group upped their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, BMO Capital Markets boosted their target price on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and a consensus target price of $131.33.

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.