EP Wealth Advisors LLC lifted its stake in shares of Discover Financial Services (NYSE:DFS) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,510 shares of the financial services provider’s stock after acquiring an additional 189 shares during the period. EP Wealth Advisors LLC’s holdings in Discover Financial Services were worth $721,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of DFS. Envestnet Asset Management Inc. raised its holdings in shares of Discover Financial Services by 60.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after acquiring an additional 803,738 shares during the period. Elser Financial Planning Inc purchased a new position in shares of Discover Financial Services during the 2nd quarter worth $91,044,000. Magnetar Financial LLC purchased a new position in shares of Discover Financial Services during the 1st quarter worth $71,693,000. Samlyn Capital LLC raised its holdings in shares of Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after acquiring an additional 508,504 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Discover Financial Services by 67.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,257,086 shares of the financial services provider’s stock worth $141,297,000 after acquiring an additional 506,801 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on DFS. Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. StockNews.com began coverage on shares of Discover Financial Services in a report on Thursday. They issued a “hold” rating on the stock. Jefferies Financial Group boosted their price objective on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. BTIG Research began coverage on shares of Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $132.94.
Check Out Our Latest Report on DFS
Discover Financial Services Stock Performance
Shares of Discover Financial Services stock opened at $137.32 on Thursday. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61. The company has a market cap of $34.44 billion, a PE ratio of 15.66, a P/E/G ratio of 0.94 and a beta of 1.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The business has a 50-day simple moving average of $134.37 and a 200-day simple moving average of $129.50.
Discover Financial Services (NYSE:DFS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the company posted $3.54 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Discover Financial Services will post 12.88 EPS for the current fiscal year.
Discover Financial Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.
About Discover Financial Services
(Free Report)
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; private student loans, 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.
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