Discover Financial Services (NYSE:DFS) Position Reduced by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in Discover Financial Services (NYSE:DFS) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 64,078 shares of the financial services provider’s stock after selling 462 shares during the quarter. Glenmede Trust Co. NA’s holdings in Discover Financial Services were worth $8,990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridgewater Associates LP bought a new position in Discover Financial Services during the third quarter valued at about $500,000. Townsquare Capital LLC lifted its holdings in Discover Financial Services by 4.5% in the 3rd quarter. Townsquare Capital LLC now owns 4,769 shares of the financial services provider’s stock valued at $669,000 after acquiring an additional 204 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Discover Financial Services by 9.7% during the 3rd quarter. Brooklyn Investment Group now owns 3,288 shares of the financial services provider’s stock valued at $461,000 after purchasing an additional 290 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Discover Financial Services by 19.4% in the 3rd quarter. Quantbot Technologies LP now owns 14,504 shares of the financial services provider’s stock worth $2,035,000 after purchasing an additional 2,360 shares during the last quarter. Finally, D.A. Davidson & CO. raised its holdings in shares of Discover Financial Services by 5.7% in the 3rd quarter. D.A. Davidson & CO. now owns 10,029 shares of the financial services provider’s stock worth $1,407,000 after purchasing an additional 539 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DFS shares. Wells Fargo & Company raised their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Royal Bank of Canada raised their price objective on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Evercore ISI upped their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $138.81.

Discover Financial Services Stock Performance

DFS stock opened at $182.43 on Friday. The firm has a 50 day simple moving average of $156.66 and a 200 day simple moving average of $139.67. Discover Financial Services has a 52 week low of $89.58 and a 52 week high of $188.26. The stock has a market cap of $45.80 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.17 and a beta of 1.41. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business posted $2.59 EPS. Research analysts anticipate that Discover Financial Services will post 13.34 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.70 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.53%. Discover Financial Services’s dividend payout ratio (DPR) is currently 22.60%.

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; 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.