Discover Financial Services (NYSE:DFS) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its stake in Discover Financial Services (NYSE:DFS) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 39,710 shares of the financial services provider’s stock after selling 360 shares during the period. Park Avenue Securities LLC’s holdings in Discover Financial Services were worth $5,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DFS. Partnership Wealth Management LLC acquired a new position in Discover Financial Services during the 4th quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $31,000. Riverview Trust Co purchased a new stake in shares of Discover Financial Services during the 1st quarter worth approximately $34,000. New Covenant Trust Company N.A. purchased a new stake in shares of Discover Financial Services during the 1st quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DFS shares. Royal Bank of Canada boosted their price target on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. Wells Fargo & Company upped their target price on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. BMO Capital Markets upped their target price on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research note on Friday, July 19th. Finally, Barclays upped their target price on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $131.33.

Discover Financial Services Trading Down 1.5 %

Shares of Discover Financial Services stock traded down $1.86 during trading hours on Wednesday, reaching $123.41. 689,802 shares of the company’s stock were exchanged, compared to its average volume of 1,788,969. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $147.61. The firm has a market capitalization of $30.95 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. The company has a fifty day moving average of $130.56 and a 200-day moving average of $123.86. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.54 EPS. Sell-side analysts forecast that Discover Financial Services will post 12.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.27%. Discover Financial Services’s payout ratio is 31.93%.

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.