Discover Financial Services (NYSE:DFS) Shares Acquired by Harvest Management LLC

Harvest Management LLC lifted its stake in shares of Discover Financial Services (NYSE:DFS) by 100.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the financial services provider’s stock after purchasing an additional 2,500 shares during the period. Discover Financial Services comprises 0.4% of Harvest Management LLC’s investment portfolio, making the stock its 25th biggest position. Harvest Management LLC’s holdings in Discover Financial Services were worth $701,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. National Pension Service raised its holdings 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 buying an additional 56,814 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in Discover Financial Services during the second quarter worth approximately $4,835,000. Janney Montgomery Scott LLC acquired a new stake in shares of Discover Financial Services in the 3rd quarter valued at about $2,415,000. Versor Investments LP grew its position in Discover Financial Services by 21.5% during the 3rd 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 last quarter. Finally, Raymond James & Associates grew its stake in shares of Discover Financial Services by 12.7% in the 3rd quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider’s stock valued at $20,954,000 after purchasing an additional 16,863 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI increased their price objective on shares of 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. Royal Bank of Canada lifted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $138.81.

Discover Financial Services Trading Down 1.4 %

NYSE DFS opened at $179.96 on Tuesday. 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 firm has a market capitalization of $45.18 billion, a P/E ratio of 14.52, a PEG ratio of 1.16 and a beta of 1.45. The business has a fifty day simple moving average of $156.66 and a 200 day simple moving average of $139.87. Discover Financial Services has a 12 month low of $93.83 and a 12 month high of $188.26.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period last year, the firm earned $2.59 EPS. On average, analysts predict that Discover Financial Services will post 13.34 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, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.56%. Discover Financial Services’s dividend payout ratio (DPR) is 22.60%.

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; 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.