CIBC World Markets Inc. grew its position in shares of Discover Financial Services (NYSE:DFS) by 326.5% during the 1st quarter, Holdings Channel reports. The firm owned 26,526 shares of the financial services provider’s stock after purchasing an additional 20,307 shares during the quarter. CIBC World Markets Inc.’s holdings in Discover Financial Services were worth $1,908,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in DFS. Signaturefd LLC acquired a new stake in shares of Discover Financial Services during the 1st quarter worth about $143,000. Private Capital Group LLC boosted its stake in shares of Discover Financial Services by 8,258.3% during the 1st quarter. Private Capital Group LLC now owns 2,006 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 1,982 shares during the last quarter. Focused Wealth Management Inc acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $177,000. Hunter Associates Investment Management LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $215,000. Finally, Delpha Capital Management LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $243,000. 86.43% of the stock is currently owned by institutional investors.
In related news, Director Mary K. Bush sold 4,674 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $76.17, for a total value of $356,018.58. Following the transaction, the director now owns 54,060 shares in the company, valued at $4,117,750.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger C. Hochschild sold 15,259 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $69.70, for a total transaction of $1,063,552.30. Following the completion of the transaction, the chief operating officer now owns 717,160 shares in the company, valued at approximately $49,986,052. The disclosure for this sale can be found here. Insiders sold 101,007 shares of company stock worth $7,131,881 in the last 90 days. 0.81% of the stock is currently owned by insiders.
NYSE DFS opened at $71.39 on Wednesday. Discover Financial Services has a one year low of $57.50 and a one year high of $81.93. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $25.62 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.46.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.05. Discover Financial Services had a net margin of 18.43% and a return on equity of 22.79%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted $1.43 earnings per share. Discover Financial Services’s revenue for the quarter was up 10.1% compared to the same quarter last year. equities research analysts predict that Discover Financial Services will post 7.72 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 7th. Investors of record on Thursday, May 24th were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 23rd. This represents a $1.40 annualized dividend and a yield of 1.96%. Discover Financial Services’s payout ratio is 23.41%.
DFS has been the topic of several analyst reports. Zacks Investment Research cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. UBS Group started coverage on shares of Discover Financial Services in a research note on Tuesday, March 27th. They set a “sell” rating and a $70.00 price target on the stock. JMP Securities decreased their target price on shares of Discover Financial Services from $91.00 to $84.00 and set a “market outperform” rating on the stock in a research report on Friday, April 27th. Goldman Sachs Group cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Monday, April 16th. Finally, Wells Fargo & Co decreased their target price on shares of Discover Financial Services from $84.00 to $76.00 and set a “market perform” rating on the stock in a research report on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $85.43.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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