Atria Investments LLC increased its stake in shares of Discover Financial Services (NYSE:DFS) by 5.4% during the first quarter, Holdings Channel reports. The fund held 18,446 shares of the financial services provider after buying an additional 938 shares during the quarter. Atria Investments LLC’s holdings in Discover Financial Services were worth $2,033,000 when it last filed with the SEC.
Other institutional investors have also recently changed their stake in the company. Oppenheimer Asset Management Inc. increased its position in shares of Discover Financial Services by 7.3% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 30,565 shares of the financial services provider valued at $3,532,000 after acquiring 2,091 additional shares during the period. Greenleaf Trust increased its position in shares of Discover Financial Services by 15.4% during the 1st quarter. Greenleaf Trust now owns 4,334 shares of the financial services provider valued at $478,000 after acquiring an additional 579 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Discover Financial Services by 0.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,299,737 shares of the financial services provider valued at $150,197,000 after acquiring an additional 10,603 shares during the period. AlphaCentric Advisors LLC purchased a new stake in Discover Financial Services during Q4 for $85,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Discover Financial Services by 1.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 64,836 shares of the financial services provider valued at $7,492,000 after purchasing an additional 1,224 shares last quarter. Institutional investors and hedge funds hold 85.53% of the company’s shares.
Changes to analyst ratings
A number of analysts have commented on DFS shares. Barclays cut its price target on shares of Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating for the company in a research note on Friday. Credit Suisse Group cut its target price on shares of Discover Financial Services to $134.00 in a research note on Friday. Wells Fargo & Company cut its price target on shares of Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a Wednesday, July 13 research note. Keefe, Bruyette & Woods cut their target price on shares of Discover Financial Services from $150.00 to $135.00 in a Monday July 11 research note. Finally, Wolfe Research downgraded shares of Discover Financial Services from an “outperform” rating to a “peer performer” rating and set a target price of $97.00 for the company. in a research note on Thursday, May 12. Seven analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.56.
Discover the price performance of financial services
NYSE DFS opened at $100.00 on Monday. The company has a market capitalization of $28.10 billion, a PE ratio of 6.51, a growth price-earnings ratio of 0.23 and a beta of 1.48. Discover Financial Services has a 52-week low of $88.02 and a 52-week high of $135.69. The company has a quick ratio of 1.26, a current ratio of 1.09 and a debt ratio of 1.38. The company’s 50-day simple moving average is $102.15 and its two-hundred-day simple moving average is $110.83.
Discover Financial Services (NYSE:DFS – Get Rating) last released its quarterly earnings data on Wednesday, July 20. The financial services provider reported EPS of $3.96 for the quarter, beating the consensus estimate of $3.77 by $0.19. The company posted revenue of $3.22 billion for the quarter, versus a consensus estimate of $3.18 billion. Discover Financial Services posted a net margin of 34.89% and a return on equity of 35.59%. The company’s revenue decreased by 9.9% compared to the same quarter last year. In the same period a year earlier, the company earned earnings per share of $5.55. Research analysts predict Discover Financial Services will post earnings per share of 14.93 for the current year.
Discover Financial Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8. Shareholders of record on Thursday, August 25 will receive a dividend of $0.60 per share. This represents an annualized dividend of $2.40 and a yield of 2.40%. The ex-dividend date is Wednesday, August 24. Discover Financial Services’ dividend payout ratio (DPR) is currently 15.63%.
Discover the financial services profile
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Discover Financial Services, through its subsidiaries, provides digital banking products and services and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans and other consumer loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.
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