Discover Financial Services (DFS) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its stake in shares of Discover Financial Services (NYSE:DFS) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,564 shares of the financial services provider’s stock after selling 869 shares during the quarter. OLD National Bancorp IN’s holdings in Discover Financial Services were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DFS. Raymond James Financial Services Advisors Inc. boosted its stake in Discover Financial Services by 19.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 34,256 shares of the financial services provider’s stock valued at $2,130,000 after acquiring an additional 5,497 shares during the last quarter. Koch Industries Inc. bought a new position in Discover Financial Services during the 2nd quarter valued at $250,000. Wasatch Advisors Inc. boosted its stake in Discover Financial Services by 6.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 13,152 shares of the financial services provider’s stock valued at $818,000 after acquiring an additional 800 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Discover Financial Services by 11.4% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,462 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 1,072 shares during the last quarter. Finally, Advisory Services Network LLC lifted its position in shares of Discover Financial Services by 8.5% in the 2nd quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock worth $181,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

A number of research analysts have recently issued reports on DFS shares. ValuEngine upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Barclays set a $73.00 price target on shares of Discover Financial Services and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Argus upgraded shares of Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Friday, January 26th. Instinet reduced their price target on shares of Discover Financial Services from $96.00 to $94.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Morgan Stanley raised their price target on shares of Discover Financial Services from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Discover Financial Services presently has an average rating of “Buy” and a consensus price target of $85.61.

Shares of Discover Financial Services (DFS) opened at $76.50 on Wednesday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.08 and a quick ratio of 1.55. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $81.93. The firm has a market cap of $27,598.76, a PE ratio of 12.72, a P/E/G ratio of 1.24 and a beta of 1.54.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.83%. Discover Financial Services’s dividend payout ratio (DPR) is presently 25.88%.

In related news, EVP Kathryn Mcnamara Corley sold 37,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $80.08, for a total value of $2,962,960.00. Following the sale, the executive vice president now owns 147,770 shares of the company’s stock, valued at approximately $11,833,421.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $70.15, for a total transaction of $2,104,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,441,912 shares in the company, valued at approximately $101,150,126.80. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 55,000 shares of company stock worth $16,300 and sold 242,673 shares worth $18,685,542. 0.96% of the stock is owned by company insiders.

TRADEMARK VIOLATION WARNING: “Discover Financial Services (DFS) Shares Sold by OLD National Bancorp IN” was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another publication, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this report can be read at https://www.dispatchtribunal.com/2018/02/14/discover-financial-services-dfs-shares-sold-by-old-national-bancorp-in.html.

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.

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply