Moody National Bank Trust Division Invests $255,000 in Discover Financial Services (NYSE:DFS)

Moody National Bank Trust Division bought a new position in Discover Financial Services (NYSE:DFSGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,691 shares of the financial services provider’s stock, valued at approximately $255,000.

Several other institutional investors have also recently made changes to their positions in DFS. Tyler Stone Wealth Management purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $27,000. Tcwp LLC purchased a new stake in shares of Discover Financial Services in the 1st quarter worth approximately $43,000. Quent Capital LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $52,000. Rise Advisors LLC purchased a new stake in Discover Financial Services during the 4th quarter valued at $54,000. Finally, CVA Family Office LLC boosted its stake in Discover Financial Services by 60.3% during the 1st quarter. CVA Family Office LLC now owns 465 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 83.92% of the company’s stock.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $100.29 on Wednesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a fifty day moving average price of $102.77 and a 200 day moving average price of $105.59. Discover Financial Services has a fifty-two week low of $88.02 and a fifty-two week high of $133.40. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 6.53, a P/E/G ratio of 0.22 and a beta of 1.43.

Discover Financial Services (NYSE:DFSGet Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.19. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the business earned $5.55 earnings per share. Discover Financial Services’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, sell-side analysts expect that Discover Financial Services will post 15.36 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 8th. Shareholders of record on Thursday, August 25th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.40 annualized dividend and a yield of 2.39%. Discover Financial Services’s dividend payout ratio (DPR) is currently 15.63%.

Wall Street Analyst Weigh In

DFS has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded Discover Financial Services from an “overweight” rating to a “neutral” rating and cut their target price for the company from $140.00 to $113.00 in a research note on Tuesday, September 6th. Piper Sandler increased their target price on Discover Financial Services to $132.00 in a research note on Friday, July 22nd. Barclays dropped their price target on Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating on the stock in a research note on Friday, July 22nd. Keefe, Bruyette & Woods dropped their price target on Discover Financial Services from $150.00 to $135.00 in a research note on Monday, July 11th. Finally, Credit Suisse Group dropped their price target on Discover Financial Services to $134.00 in a research note on Friday, July 22nd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Discover Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $123.88.

About Discover Financial Services

(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.

Recommended Stories

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.