Girard Partners LTD. increased its holdings in Discover Financial Services (NYSE:DFS) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,548 shares of the financial services provider’s stock after buying an additional 169 shares during the period. Girard Partners LTD.’s holdings in Discover Financial Services were worth $275,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Icon Wealth Partners LLC bought a new stake in Discover Financial Services in the 1st quarter valued at about $26,000. Weaver Consulting Group bought a new stake in Discover Financial Services in the 1st quarter valued at about $28,000. IMA Wealth Inc. lifted its position in Discover Financial Services by 1,448.3% in the 1st quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 420 shares during the last quarter. Semmax Financial Advisors Inc. lifted its position in Discover Financial Services by 75.6% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 180 shares during the last quarter. Finally, Next Capital Management LLC bought a new stake in Discover Financial Services in the 2nd quarter valued at about $34,000. 85.15% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE DFS traded up $0.57 during midday trading on Friday, reaching $82.39. The company’s stock had a trading volume of 67,737 shares, compared to its average volume of 1,514,450. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30. The company has a 50 day moving average price of $83.08 and a 200 day moving average price of $77.84. Discover Financial Services has a one year low of $54.36 and a one year high of $92.98. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.16 and a beta of 1.60.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.44 dividend. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Wednesday, August 21st. Discover Financial Services’s payout ratio is presently 22.59%.
In related news, EVP Diane E. Offereins sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $91.76, for a total value of $1,835,200.00. Following the sale, the executive vice president now directly owns 120,874 shares in the company, valued at approximately $11,091,398.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary K. Bush sold 993 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $83.27, for a total transaction of $82,687.11. Following the completion of the sale, the director now owns 52,075 shares in the company, valued at $4,336,285.25. The disclosure for this sale can be found here. Insiders sold a total of 27,663 shares of company stock worth $2,534,291 over the last quarter. Insiders own 0.81% of the company’s stock.
DFS has been the topic of several recent research reports. Morgan Stanley set a $97.00 price objective on shares of Discover Financial Services and gave the company a “buy” rating in a research report on Friday, August 9th. Bank of America initiated coverage on shares of Discover Financial Services in a research report on Wednesday, June 19th. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research report on Friday, June 7th. Wells Fargo & Co lifted their price objective on shares of Discover Financial Services from $82.00 to $88.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Finally, Nomura lifted their price objective on shares of Discover Financial Services from $86.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $84.35.
Discover Financial Services 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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