Jacobi Capital Management LLC Trims Stake in Discover Financial Services (NYSE:DFS)

Jacobi Capital Management LLC lowered its stake in Discover Financial Services (NYSE:DFS) by 6.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,559 shares of the financial services provider’s stock after selling 359 shares during the quarter. Jacobi Capital Management LLC’s holdings in Discover Financial Services were worth $963,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Hemington Wealth Management raised its holdings in Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 50 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Discover Financial Services by 0.6% during the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after buying an additional 56 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of Discover Financial Services by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 57 shares during the last quarter. Invst LLC boosted its position in Discover Financial Services by 0.9% during the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 62 shares during the period. Finally, CTC Alternative Strategies Ltd. boosted its position in Discover Financial Services by 3.2% during the 3rd quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 63 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

NYSE:DFS opened at $195.38 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a 50-day moving average of $188.81 and a two-hundred day moving average of $165.52. The stock has a market cap of $49.16 billion, a P/E ratio of 12.24, a PEG ratio of 1.51 and a beta of 1.46. Discover Financial Services has a 1-year low of $118.74 and a 1-year high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.43%. Discover Financial Services’s payout ratio is 17.54%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Barclays upped their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada upped their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $191.91.

About Discover Financial Services

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.