Discover Financial Services (DFS) Shares Bought by Northwest Bancshares Inc.

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Northwest Bancshares Inc. boosted its position in Discover Financial Services (NYSE:DFS) by 7.1% during the first quarter, Holdings Channel reports. The fund owned 46,774 shares of the financial services provider’s stock after acquiring an additional 3,097 shares during the period. Discover Financial Services comprises 1.4% of Northwest Bancshares Inc.’s holdings, making the stock its 16th biggest holding. Northwest Bancshares Inc.’s holdings in Discover Financial Services were worth $3,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cobiz Wealth LLC grew its stake in shares of Discover Financial Services by 0.4% during the first quarter. Cobiz Wealth LLC now owns 45,524 shares of the financial services provider’s stock valued at $3,408,000 after buying an additional 190 shares during the last quarter. Buckley Wealth Management LLC grew its stake in shares of Discover Financial Services by 5.7% during the fourth quarter. Buckley Wealth Management LLC now owns 4,978 shares of the financial services provider’s stock valued at $294,000 after buying an additional 270 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Discover Financial Services by 2.7% during the fourth quarter. Stanley Laman Group Ltd. now owns 10,447 shares of the financial services provider’s stock valued at $616,000 after buying an additional 271 shares during the last quarter. Markston International LLC grew its stake in shares of Discover Financial Services by 0.6% during the fourth quarter. Markston International LLC now owns 52,239 shares of the financial services provider’s stock valued at $3,081,000 after buying an additional 300 shares during the last quarter. Finally, Hanson McClain Inc. grew its stake in shares of Discover Financial Services by 78.5% during the fourth quarter. Hanson McClain Inc. now owns 682 shares of the financial services provider’s stock valued at $40,000 after buying an additional 300 shares during the last quarter. 87.29% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Carlos Minetti sold 7,500 shares of Discover Financial Services stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $67.59, for a total transaction of $506,925.00. Following the completion of the transaction, the executive vice president now directly owns 131,598 shares in the company, valued at $8,894,708.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David W. Nelms sold 29,300 shares of Discover Financial Services stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $72.46, for a total transaction of $2,123,078.00. Following the transaction, the insider now owns 970,891 shares of the company’s stock, valued at $70,350,761.86. The disclosure for this sale can be found here. Insiders have sold 117,062 shares of company stock valued at $8,124,691 over the last quarter. Company insiders own 0.81% of the company’s stock.

A number of research analysts have recently issued reports on DFS shares. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, March 27th. JMP Securities raised their price objective on Discover Financial Services from $74.00 to $80.00 and gave the company a “market outperform” rating in a research note on Thursday, April 4th. Bank of America set a $80.00 price objective on Discover Financial Services and gave the company a “buy” rating in a research note on Friday, January 25th. ValuEngine raised Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Oppenheimer set a $79.00 price objective on Discover Financial Services and gave the company a “buy” rating in a research note on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $81.07.

DFS traded down $0.18 on Wednesday, hitting $77.02. The company had a trading volume of 1,288,141 shares, compared to its average volume of 2,065,307. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.44. Discover Financial Services has a 52-week low of $54.36 and a 52-week high of $80.36. The firm has a market capitalization of $25.20 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.12 and a beta of 1.60.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, January 24th. The financial services provider reported $2.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.06). Discover Financial Services had a return on equity of 26.22% and a net margin of 21.25%. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the business earned $1.51 earnings per share. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that Discover Financial Services will post 8.62 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 24th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.60 annualized dividend and a yield of 2.08%. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.54%.

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About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

Further Reading: How to Invest in Growth Stocks

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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