Discover Financial Services (NYSE:DFS) Stock Position Decreased by HM Payson & Co.

HM Payson & Co. cut its position in shares of Discover Financial Services (NYSE:DFS) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,849 shares of the financial services provider’s stock after selling 375 shares during the period. HM Payson & Co.’s holdings in Discover Financial Services were worth $636,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DFS. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth about $31,000. Riverview Trust Co purchased a new stake in shares of Discover Financial Services during the 1st quarter worth about $34,000. New Covenant Trust Company N.A. purchased a new stake in shares of Discover Financial Services during the 1st quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth about $35,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DFS shares. Jefferies Financial Group raised their price target on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. BMO Capital Markets increased their price objective on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods increased their price objective on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Barclays increased their price objective on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company increased their price objective on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $131.33.

Discover Financial Services Stock Performance

DFS traded down $7.08 during midday trading on Friday, reaching $129.09. The company’s stock had a trading volume of 1,557,093 shares, compared to its average volume of 1,349,005. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The stock has a market cap of $32.41 billion, a P/E ratio of 14.72, a PEG ratio of 0.90 and a beta of 1.43. The company has a fifty day simple moving average of $130.48 and a 200 day simple moving average of $123.37. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm earned $3.54 EPS. Discover Financial Services’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts expect that Discover Financial Services will post 12.23 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s payout ratio is presently 31.93%.

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.