Transcend Capital Advisors LLC Has $322,000 Stake in Discover Financial Services (NYSE:DFS)

Transcend Capital Advisors LLC raised its holdings in Discover Financial Services (NYSE:DFS) by 70.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,406 shares of the financial services provider’s stock after acquiring an additional 1,406 shares during the period. Transcend Capital Advisors LLC’s holdings in Discover Financial Services were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BTR Capital Management Inc. grew its stake in Discover Financial Services by 1.4% in the second quarter. BTR Capital Management Inc. now owns 96,846 shares of the financial services provider’s stock valued at $9,160,000 after acquiring an additional 1,324 shares during the period. Piscataqua Savings Bank boosted its position in shares of Discover Financial Services by 647.5% during the second quarter. Piscataqua Savings Bank now owns 1,039 shares of the financial services provider’s stock worth $98,000 after buying an additional 900 shares during the period. BMS Financial Advisors LLC boosted its position in shares of Discover Financial Services by 4.4% during the second quarter. BMS Financial Advisors LLC now owns 6,184 shares of the financial services provider’s stock worth $585,000 after buying an additional 263 shares during the period. American National Bank acquired a new position in shares of Discover Financial Services during the second quarter worth about $70,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Discover Financial Services by 73.5% during the second quarter. State of Alaska Department of Revenue now owns 76,245 shares of the financial services provider’s stock worth $7,210,000 after buying an additional 32,295 shares during the period. 83.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Piper Sandler upped their price objective on Discover Financial Services to $132.00 in a research report on Friday, July 22nd. Stephens upped their price objective on Discover Financial Services to $107.00 in a research report on Tuesday. Bank of America reduced their price target on Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. Keefe, Bruyette & Woods reduced their price target on Discover Financial Services from $150.00 to $135.00 in a research report on Monday, July 11th. Finally, Credit Suisse Group reduced their price target on Discover Financial Services to $134.00 in a research report on Friday, July 22nd. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.88.

Discover Financial Services Price Performance

NYSE:DFS opened at $97.87 on Thursday. The firm has a market capitalization of $26.74 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 0.22 and a beta of 1.43. The company has a quick ratio of 1.26, a current 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. The stock’s 50 day moving average price is $102.74 and its two-hundred day moving average price is $105.50.

Discover Financial Services (NYSE:DFSGet Rating) last announced 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 $3.75 by $0.21. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $5.55 earnings per share. On average, analysts anticipate that Discover Financial Services will post 15.37 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.45%. Discover Financial Services’s dividend payout ratio (DPR) is currently 15.63%.

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.

See Also

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

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