Discover Financial Services (NYSE:DFS) Shares Sold by PSI Advisors LLC

PSI Advisors LLC trimmed its holdings in Discover Financial Services (NYSE:DFS) by 50.0% in the second quarter, HoldingsChannel.com reports. The firm owned 200 shares of the financial services provider’s stock after selling 200 shares during the quarter. PSI Advisors LLC’s holdings in Discover Financial Services were worth $26,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DFS. Partnership Wealth Management LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in Discover Financial Services in the second quarter valued at approximately $26,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $31,000. Riverview Trust Co purchased a new position in shares of Discover Financial Services during the first quarter worth approximately $34,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Discover Financial Services during the 1st quarter worth $34,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 1.1 %

Discover Financial Services stock opened at $131.24 on Friday. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61. The firm has a market capitalization of $32.91 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. The stock’s fifty day moving average is $132.18 and its two-hundred day moving average is $125.67. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.12 and a current ratio of 1.12.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the company earned $3.54 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. Analysts predict that Discover Financial Services will post 12.23 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Wall Street Analyst Weigh In

DFS has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. BMO Capital Markets boosted their target price on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. BTIG Research initiated coverage on Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada upped 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 report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services has an average rating of “Hold” and a consensus price target 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.