Duncker Streett & Co. Inc. raised its position in Discover Financial Services (NYSE:DFS) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,464 shares of the financial services provider’s stock after purchasing an additional 702 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in Discover Financial Services were worth $1,954,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in DFS. Financial Gravity Companies Inc. acquired a new position in Discover Financial Services in the fourth quarter worth approximately $29,000. Cerebellum GP LLC acquired a new position in Discover Financial Services in the fourth quarter worth approximately $30,000. Massey Quick Simon & CO. LLC acquired a new position in Discover Financial Services in the fourth quarter worth approximately $30,000. Pinnacle Bank acquired a new position in Discover Financial Services in the fourth quarter worth approximately $32,000. Finally, Berman Capital Advisors LLC acquired a new position in Discover Financial Services in the fourth quarter worth approximately $37,000. Institutional investors own 87.79% of the company’s stock.
A number of research firms recently commented on DFS. Bank of America set a $80.00 price objective on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, January 25th. Royal Bank of Canada began coverage on shares of Discover Financial Services in a research note on Friday, May 3rd. They issued an “outperform” rating and a $96.00 price objective for the company. JMP Securities raised their price objective on shares of Discover Financial Services from $74.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 4th. BMO Capital Markets raised their price objective on shares of Discover Financial Services to $92.00 and gave the stock a “market perform” rating in a research note on Monday, April 29th. Finally, Nomura raised their price objective on shares of Discover Financial Services from $81.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Discover Financial Services has an average rating of “Buy” and an average target price of $81.69.
In related news, CFO R. Mark Graf sold 30,741 shares of Discover Financial Services stock in a transaction on Monday, April 29th. The shares were sold at an average price of $81.92, for a total value of $2,518,302.72. Following the completion of the sale, the chief financial officer now owns 56,072 shares of the company’s stock, valued at approximately $4,593,418.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Carlos Minetti sold 3,750 shares of Discover Financial Services stock in a transaction on Friday, March 1st. The stock was sold at an average price of $72.05, for a total transaction of $270,187.50. Following the completion of the transaction, the executive vice president now owns 132,077 shares in the company, valued at approximately $9,516,147.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,169 shares of company stock valued at $6,615,921. 0.81% of the stock is owned by company insiders.
Shares of NYSE:DFS traded down $0.21 during trading on Wednesday, reaching $78.45. 1,511,730 shares of the company traded hands, compared to its average volume of 2,054,593. The firm has a market capitalization of $25.41 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.64. Discover Financial Services has a 1-year low of $54.36 and a 1-year high of $82.51. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 2.46.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.13. Discover Financial Services had a net margin of 20.98% and a return on equity of 26.34%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the business earned $1.82 EPS. Discover Financial Services’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts expect that Discover Financial Services will post 8.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, May 23rd. Discover Financial Services’s payout ratio is presently 20.54%.
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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.
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