Kolinsky Wealth Management LLC Buys 574 Shares of Discover Financial Services (NYSE:DFS)

Kolinsky Wealth Management LLC grew its stake in shares of Discover Financial Services (NYSE:DFS) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,572 shares of the financial services provider’s stock after acquiring an additional 574 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Discover Financial Services were worth $641,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. National Pension Service lifted its position in Discover Financial Services by 14.8% in the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after acquiring an additional 56,814 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in Discover Financial Services in the second quarter worth approximately $4,835,000. Janney Montgomery Scott LLC purchased a new position in Discover Financial Services during the third quarter valued at $2,415,000. Janus Henderson Group PLC grew its stake in shares of Discover Financial Services by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock valued at $8,197,000 after acquiring an additional 23,702 shares during the period. Finally, Versor Investments LP boosted its position in shares of Discover Financial Services by 21.5% in the third quarter. Versor Investments LP now owns 75,963 shares of the financial services provider’s stock worth $10,657,000 after purchasing an additional 13,427 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DFS. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Evercore ISI increased their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $138.81.

Discover Financial Services Stock Down 0.1 %

Shares of NYSE:DFS opened at $182.43 on Friday. Discover Financial Services has a 12 month low of $89.58 and a 12 month high of $188.26. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $156.66 and a 200 day moving average price of $139.67. The company has a market cap of $45.80 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.17 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $2.59 EPS. As a group, equities research analysts predict that Discover Financial Services will post 13.34 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is currently 22.60%.

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.