Intact Investment Management Inc. bought a new stake in Discover Financial Services (NYSE:DFS) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 9,300 shares of the financial services provider’s stock, valued at approximately $466,000.
Several other hedge funds have also modified their holdings of DFS. Ellevest Inc. boosted its holdings in shares of Discover Financial Services by 76.9% in the 1st quarter. Ellevest Inc. now owns 757 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 329 shares in the last quarter. Bartlett & Co. LLC acquired a new stake in shares of Discover Financial Services in the 1st quarter valued at $27,000. Ballast Advisors LLC acquired a new stake in shares of Discover Financial Services during the 1st quarter valued at $32,000. TCI Wealth Advisors Inc. boosted its holdings in shares of Discover Financial Services by 289.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 930 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 691 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. acquired a new stake in shares of Discover Financial Services during the 2nd quarter valued at $38,000. 82.64% of the stock is currently owned by hedge funds and other institutional investors.
In other Discover Financial Services news, EVP Robert Andrew Eichfeld acquired 12,650 shares of the stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $39.50 per share, with a total value of $499,675.00. Following the transaction, the executive vice president now owns 33,454 shares in the company, valued at approximately $1,321,433. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.
Several equities research analysts recently weighed in on the company. Stephens raised their price objective on Discover Financial Services from $42.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Deutsche Bank cut their price objective on Discover Financial Services from $72.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, April 24th. Royal Bank of Canada raised their price objective on Discover Financial Services from $42.00 to $61.00 in a report on Wednesday, June 3rd. Morgan Stanley raised their price objective on Discover Financial Services from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Finally, Wolfe Research initiated coverage on Discover Financial Services in a report on Friday. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. Discover Financial Services has an average rating of “Hold” and an average price target of $62.93.
DFS stock opened at $49.43 on Friday. The stock has a 50-day moving average price of $50.50 and a 200-day moving average price of $53.23. Discover Financial Services has a 1-year low of $23.25 and a 1-year high of $90.72. The company has a current ratio of 1.18, a quick ratio of 1.26 and a debt-to-equity ratio of 2.70. The firm has a market cap of $15.45 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 9.38 and a beta of 1.88.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported ($1.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($1.25). Discover Financial Services had a return on equity of 10.45% and a net margin of 7.65%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.63 billion. On average, analysts forecast that Discover Financial Services will post 0.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, August 19th. Discover Financial Services’s dividend payout ratio (DPR) is presently 19.38%.
Discover Financial Services Company Profile
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.
See Also: Net Margin
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