Maryland State Retirement & Pension System Sells 548 Shares of Discover Financial Services (NYSE:DFS)

Maryland State Retirement & Pension System trimmed its holdings in Discover Financial Services (NYSE:DFSGet Rating) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,260 shares of the financial services provider’s stock after selling 548 shares during the period. Maryland State Retirement & Pension System’s holdings in Discover Financial Services were worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Koshinski Asset Management Inc. lifted its stake in shares of Discover Financial Services by 17.6% in the fourth quarter. Koshinski Asset Management Inc. now owns 588 shares of the financial services provider’s stock valued at $68,000 after buying an additional 88 shares in the last quarter. First Midwest Bank Trust Division lifted its stake in shares of Discover Financial Services by 1.3% in the fourth quarter. First Midwest Bank Trust Division now owns 7,411 shares of the financial services provider’s stock valued at $856,000 after buying an additional 94 shares in the last quarter. Impax Asset Management Group plc lifted its stake in shares of Discover Financial Services by 1.0% in the fourth quarter. Impax Asset Management Group plc now owns 9,892 shares of the financial services provider’s stock valued at $1,143,000 after buying an additional 95 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Discover Financial Services by 43.9% in the fourth quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock valued at $39,000 after buying an additional 104 shares in the last quarter. Finally, Trust Investment Advisors lifted its stake in shares of Discover Financial Services by 0.9% in the fourth quarter. Trust Investment Advisors now owns 12,542 shares of the financial services provider’s stock valued at $1,449,000 after buying an additional 106 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

DFS opened at $94.02 on Thursday. The company has a market capitalization of $26.42 billion, a price-to-earnings ratio of 5.55, a PEG ratio of 0.21 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $107.50 and a 200-day moving average price of $113.34. Discover Financial Services has a twelve month low of $88.02 and a twelve month high of $135.69.

Discover Financial Services (NYSE:DFSGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $4.22 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.64. Discover Financial Services had a net margin of 38.42% and a return on equity of 41.57%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the business earned $5.04 earnings per share. Discover Financial Services’s revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Discover Financial Services will post 14.88 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 26th were given a $0.60 dividend. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Wednesday, May 25th. Discover Financial Services’s dividend payout ratio (DPR) is 14.16%.

Several analysts have recently commented on DFS shares. Wells Fargo & Company lowered their target price on shares of Discover Financial Services from $135.00 to $127.00 and set an “equal weight” rating for the company in a report on Wednesday, April 6th. StockNews.com started coverage on shares of Discover Financial Services in a report on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Discover Financial Services from $145.00 to $150.00 in a report on Friday, April 29th. Citigroup increased their target price on shares of Discover Financial Services from $154.00 to $157.00 in a report on Friday, April 29th. Finally, Morgan Stanley lowered their target price on shares of Discover Financial Services from $144.00 to $127.00 and set an “equal weight” rating for the company in a report on Monday, March 28th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.63.

Discover Financial Services Company Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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