Discover Financial Services (NYSE:DFS) Shares Acquired by Everhart Financial Group Inc.

Everhart Financial Group Inc. boosted its holdings in Discover Financial Services (NYSE:DFS) by 31.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,013 shares of the financial services provider’s stock after purchasing an additional 480 shares during the quarter. Everhart Financial Group Inc.’s holdings in Discover Financial Services were worth $263,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp lifted its position in shares of Discover Financial Services by 24.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock worth $51,000 after buying an additional 76 shares during the last quarter. Ballentine Partners LLC raised its stake in Discover Financial Services by 3.1% during the 1st quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 86 shares in the last quarter. Team Hewins LLC lifted its position in Discover Financial Services by 5.5% in the first quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 98 shares during the last quarter. Wealthspire Advisors LLC boosted its stake 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 valued at $351,000 after acquiring an additional 99 shares in the last quarter. Finally, Premier Path Wealth Partners LLC grew its holdings 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 last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

Shares of NYSE:DFS traded up $1.69 during midday trading on Friday, hitting $132.93. 1,473,722 shares of the stock were exchanged, compared to its average volume of 1,730,174. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.28. The company has a 50 day moving average price of $132.39 and a 200-day moving average price of $125.85. The stock has a market cap of $33.34 billion, a P/E ratio of 15.16, a PEG ratio of 0.90 and a beta of 1.43.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $3.00. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.54 earnings per share. On average, research analysts forecast that Discover Financial Services will post 12.23 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business 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. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Analyst Upgrades and Downgrades

DFS has been the subject of several analyst reports. BTIG Research started coverage on Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. BMO Capital Markets lifted their target price on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Barclays raised their price objective on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, StockNews.com assumed coverage on Discover Financial Services in a research note on Friday, August 16th. They set a “hold” rating for the company. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target 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.