Discover Financial Services (NYSE:DFS) Shares Purchased by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC raised its holdings in Discover Financial Services (NYSE:DFS) by 92.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,814 shares of the financial services provider’s stock after acquiring an additional 2,307 shares during the period. Schrum Private Wealth Management LLC’s holdings in Discover Financial Services were worth $675,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. grew its position in shares of Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 157 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of Discover Financial Services during the 2nd quarter valued at about $26,000. Y.D. More Investments Ltd lifted its holdings in shares of Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 0.2 %

Discover Financial Services stock traded down $0.33 during midday trading on Wednesday, hitting $177.44. 306,755 shares of the stock were exchanged, compared to its average volume of 1,674,401. Discover Financial Services has a 1 year low of $84.00 and a 1 year high of $188.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. The firm has a market cap of $44.55 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.17 and a beta of 1.41. The company has a 50 day moving average price of $145.33 and a two-hundred day moving average price of $135.04.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the company earned $2.59 earnings per share. On average, sell-side analysts predict that Discover Financial Services will post 13.22 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s payout ratio is 22.60%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DFS. JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada increased their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. BMO Capital Markets raised their price objective on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Finally, Barclays boosted their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $138.81.

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; 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.