Dupont Capital Management Corp reduced its position in Discover Financial Services (NYSE:DFS) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,654 shares of the financial services provider’s stock after selling 617 shares during the quarter. Dupont Capital Management Corp’s holdings in Discover Financial Services were worth $584,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Ellevest Inc. increased its holdings in Discover Financial Services by 76.9% in the 1st quarter. Ellevest Inc. now owns 757 shares of the financial services provider’s stock valued at $27,000 after buying an additional 329 shares during the period. Bartlett & Co. LLC bought a new position in Discover Financial Services in the 1st quarter valued at about $27,000. Ballast Advisors LLC bought a new position in Discover Financial Services in the 1st quarter valued at about $32,000. TCI Wealth Advisors Inc. increased its holdings in Discover Financial Services by 289.1% in the 1st quarter. TCI Wealth Advisors Inc. now owns 930 shares of the financial services provider’s stock valued at $33,000 after buying an additional 691 shares during the period. Finally, Beese Fulmer Investment Management Inc. bought a new position in Discover Financial Services in the 2nd quarter valued at about $38,000. 82.64% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on DFS. ValuEngine raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, June 4th. Morgan Stanley lifted their price target on shares of Discover Financial Services from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Oppenheimer began coverage on shares of Discover Financial Services in a report on Thursday, April 23rd. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $42.00 to $61.00 in a report on Wednesday, June 3rd. Finally, BMO Capital Markets lifted their price target on shares of Discover Financial Services from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Discover Financial Services presently has an average rating of “Hold” and an average price target of $62.93.
NYSE:DFS opened at $49.43 on Friday. The firm’s 50 day simple moving average is $50.50 and its 200 day simple moving average is $53.23. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.26. Discover Financial Services has a one year low of $23.25 and a one year high of $90.72. The company has a market cap of $15.15 billion, a PE ratio of 15.64, a P/E/G ratio of 9.20 and a beta of 1.88.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported ($1.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($1.25). The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.63 billion. Discover Financial Services had a return on equity of 10.45% and a net margin of 7.65%. Equities research analysts expect that Discover Financial Services will post 0.77 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a $0.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.56%. Discover Financial Services’s dividend payout ratio (DPR) is currently 19.38%.
Discover Financial Services Company Profile
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.
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