City State Bank Sells 1,890 Shares of Discover Financial Services (NYSE:DFS)

by · The Cerbat Gem

City State Bank cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 50.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,892 shares of the financial services provider’s stock after selling 1,890 shares during the period. City State Bank’s holdings in Discover Financial Services were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DFS. Opal Wealth Advisors LLC acquired a new position in shares of Discover Financial Services during the 2nd quarter worth $26,000. Y.D. More Investments Ltd raised its stake in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Discover Financial Services by 348.2% in the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in shares of Discover Financial Services during the 1st quarter valued at approximately $34,000. 86.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DFS has been the subject of several research reports. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods raised their price objective on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. StockNews.com started coverage on Discover Financial Services in a report on Friday. They issued a “hold” rating for the company. Jefferies Financial Group lifted their price target on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $133.88.

Read Our Latest Analysis on Discover Financial Services

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $145.81 on Friday. The business has a 50-day moving average price of $134.73 and a two-hundred day moving average price of $130.39. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The company has a market cap of $36.57 billion, a P/E ratio of 16.63, a PEG ratio of 0.94 and a beta of 1.41.

Discover Financial Services (NYSE:DFS – Get Free Report) last released its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.18 billion. During the same quarter last year, the firm posted $3.54 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. As a group, analysts anticipate that Discover Financial Services will post 13.15 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 1.92%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Discover Financial Services Company Profile

(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; 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.

Further Reading

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