Narwhal Capital Management lessened its position in Discover Financial Services (NYSE:DFS) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,690 shares of the financial services provider’s stock after selling 1,169 shares during the quarter. Narwhal Capital Management’s holdings in Discover Financial Services were worth $1,140,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in DFS. Carnick & Kubik Group LLC acquired a new position in shares of Discover Financial Services during the 2nd quarter worth approximately $584,000. Garrison Point Advisors LLC acquired a new position in shares of Discover Financial Services during the 2nd quarter worth approximately $210,000. Barnett & Company Inc. increased its position in shares of Discover Financial Services by 8.1% during the 2nd quarter. Barnett & Company Inc. now owns 30,360 shares of the financial services provider’s stock worth $2,356,000 after purchasing an additional 2,265 shares during the last quarter. Investec Asset Management North America Inc. increased its position in shares of Discover Financial Services by 12.1% during the 2nd quarter. Investec Asset Management North America Inc. now owns 338,138 shares of the financial services provider’s stock worth $26,236,000 after purchasing an additional 36,630 shares during the last quarter. Finally, Ascent Wealth Partners LLC increased its position in shares of Discover Financial Services by 3.9% during the 2nd quarter. Ascent Wealth Partners LLC now owns 46,868 shares of the financial services provider’s stock worth $3,643,000 after purchasing an additional 1,743 shares during the last quarter. 84.93% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Goldman Sachs Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $51.00 to $56.00 in a research report on Friday, May 3rd. Morgan Stanley boosted their price target on Discover Financial Services from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Bank of America assumed coverage on Discover Financial Services in a research report on Wednesday, June 19th. They set a “neutral” rating on the stock. CIBC reaffirmed a “market perform” rating on shares of Discover Financial Services in a research report on Tuesday, May 7th. Finally, Wells Fargo & Co boosted their price target on Discover Financial Services from $82.00 to $88.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $84.12.
Shares of NYSE DFS traded down $0.64 during midday trading on Friday, hitting $83.99. 1,199,445 shares of the company’s stock were exchanged, compared to its average volume of 2,636,825. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.30. Discover Financial Services has a 12 month low of $54.36 and a 12 month high of $92.98. The business has a 50 day moving average of $82.82. The company has a market capitalization of $26.93 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.24 and a beta of 1.55.
Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.11 by $0.21. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the company posted $1.91 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities analysts forecast that Discover Financial Services will post 9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.44 per share. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, August 21st. Discover Financial Services’s payout ratio is currently 20.54%.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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