Ferguson Wellman Capital Management Inc. Sells 681 Shares of Discover Financial Services (NYSE:DFS)

Ferguson Wellman Capital Management Inc. lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,327 shares of the financial services provider’s stock after selling 681 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Discover Financial Services were worth $2,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DFS. Ballentine Partners LLC lifted its holdings in shares of Discover Financial Services by 3.1% during the first quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 86 shares during the period. Team Hewins LLC increased its position in Discover Financial Services by 5.5% in the 1st quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock valued at $247,000 after buying an additional 98 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in Discover Financial Services by 3.3% in the fourth quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 99 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its holdings in shares of Discover Financial Services by 0.8% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 108 shares in the last quarter. Finally, Premier Path Wealth Partners LLC raised its position in shares of Discover Financial Services by 5.1% during the first quarter. Premier Path Wealth Partners LLC now owns 2,230 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

DFS traded up $1.89 on Wednesday, hitting $128.51. The company’s stock had a trading volume of 221,712 shares, compared to its average volume of 1,753,501. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $147.61. The firm has a market cap of $32.23 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. The company’s 50 day simple moving average is $130.87 and its 200-day simple moving average is $124.65.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the previous year, the business earned $3.54 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts forecast that Discover Financial Services will post 12.23 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.18%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. StockNews.com started coverage on shares of Discover Financial Services in a report on Thursday, August 8th. They set a “hold” rating for the company. Keefe, Bruyette & Woods upped their target price on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Barclays increased their price objective on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada lifted their target price on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $131.33.

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.