Commonwealth Bank of Australia Acquires 3,704 Shares of Discover Financial Services (DFS)

Commonwealth Bank of Australia boosted its holdings in Discover Financial Services (NYSE:DFS) by 6.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,493 shares of the financial services provider’s stock after acquiring an additional 3,704 shares during the period. Commonwealth Bank of Australia’s holdings in Discover Financial Services were worth $3,959,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of Discover Financial Services by 60.9% during the second quarter. Russell Investments Group Ltd. now owns 355,539 shares of the financial services provider’s stock valued at $22,113,000 after buying an additional 134,552 shares during the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of Discover Financial Services by 3,355.1% during the second quarter. Harbour Capital Advisors LLC now owns 15,548 shares of the financial services provider’s stock valued at $250,000 after buying an additional 15,098 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Discover Financial Services by 9.4% during the second quarter. Janney Montgomery Scott LLC now owns 27,978 shares of the financial services provider’s stock valued at $1,740,000 after buying an additional 2,395 shares during the last quarter. Bbva Compass Bancshares Inc. bought a new stake in shares of Discover Financial Services during the second quarter valued at approximately $657,000. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Discover Financial Services by 0.8% during the second quarter. Stratos Wealth Partners LTD. now owns 7,339 shares of the financial services provider’s stock valued at $456,000 after buying an additional 57 shares during the last quarter. 84.99% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services (NYSE:DFS) opened at $71.12 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $25,654.67, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. Discover Financial Services has a 12-month low of $57.50 and a 12-month high of $74.33.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 annualized dividend and a yield of 1.97%. Discover Financial Services’s dividend payout ratio (DPR) is 24.05%.

DFS has been the topic of a number of recent analyst reports. Nomura cut their price target on Discover Financial Services from $81.00 to $79.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. Oppenheimer set a $71.00 price target on Discover Financial Services and gave the company a “buy” rating in a report on Tuesday, October 24th. Buckingham Research assumed coverage on Discover Financial Services in a report on Monday, October 2nd. They set a “buy” rating and a $74.00 target price on the stock. ValuEngine raised Discover Financial Services from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $86.00 target price on shares of Discover Financial Services in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $74.45.

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.87, for a total value of $989,786.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.68, for a total transaction of $533,440.00. Following the completion of the transaction, the executive vice president now owns 173,149 shares in the company, valued at approximately $11,545,575.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,019 shares of company stock worth $8,099,143. 0.96% of the stock is currently owned by company insiders.

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About Discover Financial Services

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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