Zions Bancorporation trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 24.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,919 shares of the financial services provider’s stock after selling 4,917 shares during the quarter. Zions Bancorporation’s holdings in Discover Financial Services were worth $962,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in DFS. Grove Bank & Trust lifted its position in shares of Discover Financial Services by 2,483.3% during the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,490 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Discover Financial Services during the third quarter worth $123,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of Discover Financial Services during the second quarter worth $157,000. San Francisco Sentry Investment Group CA bought a new stake in shares of Discover Financial Services during the second quarter worth $170,000. Finally, Sun Life Financial INC lifted its position in shares of Discover Financial Services by 19,871.4% during the second quarter. Sun Life Financial INC now owns 2,796 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 2,782 shares during the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.
In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $70.54, for a total value of $1,076,299.32. Following the transaction, the chief operating officer now owns 751,682 shares in the company, valued at $53,023,648.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $64.55, for a total value of $1,936,500.00. The disclosure for this sale can be found here. Insiders sold 183,277 shares of company stock worth $12,335,343 in the last quarter. 0.96% of the stock is owned by insiders.
Shares of Discover Financial Services (DFS) opened at $73.80 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $26,817.52, a PE ratio of 12.68, a P/E/G ratio of 1.95 and a beta of 1.53. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $74.41.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were paid a $0.35 dividend. The ex-dividend date was Tuesday, November 21st. This represents a $1.40 annualized dividend and a yield of 1.90%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.
Several analysts have recently weighed in on DFS shares. Barclays set a $73.00 target price on Discover Financial Services and gave the stock a “hold” rating in a research report on Wednesday, October 25th. ValuEngine upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Oppenheimer set a $71.00 target price on Discover Financial Services and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, Compass Point downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.11.
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Discover Financial Services Company Profile
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.
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