Graham Capital Management L.P. Has $1.45 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

Graham Capital Management L.P. increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 349.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,125 shares of the financial services provider’s stock after buying an additional 10,203 shares during the period. Graham Capital Management L.P.’s holdings in Discover Financial Services were worth $1,446,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Discover Financial Services by 9.7% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 146,925 shares of the financial services provider’s stock worth $16,190,000 after purchasing an additional 12,959 shares during the last quarter. Greenleaf Trust raised its holdings in Discover Financial Services by 15.4% during the 1st quarter. Greenleaf Trust now owns 4,334 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 579 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Discover Financial Services by 30.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 34,560 shares of the financial services provider’s stock worth $3,808,000 after purchasing an additional 8,042 shares during the last quarter. Lebenthal Global Advisors LLC raised its holdings in Discover Financial Services by 55.4% during the 1st quarter. Lebenthal Global Advisors LLC now owns 3,589 shares of the financial services provider’s stock worth $395,000 after purchasing an additional 1,279 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its holdings in Discover Financial Services by 1.9% during the 1st quarter. Jacobi Capital Management LLC now owns 5,381 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 101 shares during the last quarter. 83.92% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $102.52 on Friday. The firm has a market capitalization of $28.01 billion, a PE ratio of 6.67, a price-to-earnings-growth ratio of 0.22 and a beta of 1.43. The firm has a fifty day simple moving average of $102.53 and a two-hundred day simple moving average of $106.36. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.43. Discover Financial Services has a 12 month low of $88.02 and a 12 month high of $133.40.

Discover Financial Services (NYSE:DFSGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.77 by $0.19. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. Discover Financial Services’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.55 EPS. Analysts forecast that Discover Financial Services will post 15.34 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Wednesday, August 24th. Discover Financial Services’s dividend payout ratio is 15.63%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $140.00 to $115.00 in a report on Friday, July 22nd. Bank of America lowered their price target on shares of Discover Financial Services from $128.00 to $120.00 in a report on Sunday, July 24th. Barclays lowered their price objective on shares of Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Piper Sandler lifted their price objective on shares of Discover Financial Services to $132.00 in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Discover Financial Services from $150.00 to $135.00 in a research note on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.75.

Discover Financial Services 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.

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

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