Commerce Bank Cuts Stake in Discover Financial Services (NYSE:DFS)

Commerce Bank trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,783 shares of the financial services provider’s stock after selling 985 shares during the period. Commerce Bank’s holdings in Discover Financial Services were worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of DFS. Bessemer Group Inc. raised its stake in Discover Financial Services by 3.8% in the first quarter. Bessemer Group Inc. now owns 13,349 shares of the financial services provider’s stock worth $1,750,000 after buying an additional 491 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Discover Financial Services by 13.3% during the first quarter. EP Wealth Advisors LLC now owns 5,321 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 626 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in Discover Financial Services by 135.1% in the first quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 4,478 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Discover Financial Services by 57.6% during the first quarter. Canada Pension Plan Investment Board now owns 243,620 shares of the financial services provider’s stock valued at $31,936,000 after buying an additional 89,020 shares during the last quarter. Finally, Gabelli Funds LLC bought a new stake in shares of Discover Financial Services in the 1st quarter valued at about $983,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 2.4 %

Shares of Discover Financial Services stock opened at $179.07 on Friday. The stock has a market cap of $44.96 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.10 and a beta of 1.41. The firm has a fifty day moving average price of $152.29 and a 200 day moving average price of $137.63. Discover Financial Services has a 1 year low of $85.19 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.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter in the previous year, the firm posted $2.59 EPS. Equities research analysts predict that Discover Financial Services will post 13.34 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, December 5th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.56%. Discover Financial Services’s payout ratio is 22.60%.

Analyst Ratings Changes

DFS has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note 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. Wells Fargo & Company raised their price objective on Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Evercore ISI upped their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Discover Financial Services has a consensus rating of “Hold” and an average target price of $138.81.

About Discover Financial Services

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.