Park Place Capital Corp Sells 1,908 Shares of Discover Financial Services (NYSE:DFS)

Park Place Capital Corp trimmed its holdings in Discover Financial Services (NYSE:DFS) by 49.6% in the 2nd quarter, Holdings Channel reports. The fund owned 1,936 shares of the financial services provider’s stock after selling 1,908 shares during the quarter. Park Place Capital Corp’s holdings in Discover Financial Services were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Ballentine Partners LLC raised its stake in shares of Discover Financial Services by 3.1% in the first quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 86 shares in the last quarter. Team Hewins LLC increased its stake in shares of 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 buying an additional 98 shares in the last quarter. Wealthspire Advisors LLC increased its stake in shares of 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 buying an additional 99 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its stake in shares of Discover Financial Services by 0.8% in the first quarter. Eagle Bluffs Wealth Management LLC now owns 14,382 shares of the financial services provider’s stock valued at $1,885,000 after buying an additional 108 shares in the last quarter. Finally, Premier Path Wealth Partners LLC increased its stake in shares of Discover Financial Services by 5.1% in the first quarter. Premier Path Wealth Partners LLC now owns 2,230 shares of the financial services provider’s stock valued at $292,000 after buying an additional 109 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DFS shares. BTIG Research started coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. StockNews.com began coverage on Discover Financial Services in a report on Wednesday, July 31st. They issued a “hold” rating on the stock. Jefferies Financial Group raised their price target on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $131.33.

Discover Financial Services Stock Down 3.7 %

Discover Financial Services stock traded down $4.81 during midday trading on Monday, reaching $124.28. The stock had a trading volume of 558,494 shares, compared to its average volume of 1,793,321. The firm’s fifty day simple moving average is $130.48 and its 200-day simple moving average is $123.47. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The stock has a market capitalization of $31.17 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. 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 posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. The firm had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.54 EPS. As a group, analysts expect that Discover Financial Services will post 12.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

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.