Discover Financial Services (NYSE:DFS) Shares Sold by LSV Asset Management

LSV Asset Management decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 6.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,690,949 shares of the financial services provider’s stock after selling 121,500 shares during the period. LSV Asset Management owned approximately 0.67% of Discover Financial Services worth $221,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC acquired a new position in Discover Financial Services during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in shares of Discover Financial Services in the 1st quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 0.1 %

NYSE:DFS traded down $0.14 during mid-day trading on Friday, hitting $131.34. The company had a trading volume of 756,382 shares, compared to its average volume of 1,833,422. The business has a fifty day simple moving average of $125.57 and a 200-day simple moving average of $120.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $133.78. The firm has a market capitalization of $32.94 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.78 and a beta of 1.44.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the prior year, the business earned $3.58 earnings per share. Equities analysts forecast that Discover Financial Services will post 11.58 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Ratings Changes

A number of brokerages have weighed in on DFS. JPMorgan Chase & Co. increased their price target on Discover Financial Services from $120.00 to $132.00 and gave the stock a “neutral” rating in a research note on Monday. HSBC increased their price target on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. StockNews.com assumed coverage on Discover Financial Services in a research note on Sunday, July 7th. They set a “hold” rating on the stock. BTIG Research assumed coverage on Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Seaport Res Ptn lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $129.78.

Discover Financial Services Company Profile

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 lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.