Valicenti Advisory Services Inc. Has $1.48 Million Stock Position in Discover Financial Services (NYSE:DFS)

Valicenti Advisory Services Inc. cut its stake in Discover Financial Services (NYSE:DFS) by 46.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,654 shares of the financial services provider’s stock after selling 10,762 shares during the quarter. Valicenti Advisory Services Inc.’s holdings in Discover Financial Services were worth $1,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Adirondack Retirement Specialists Inc. purchased a new stake in shares of Discover Financial Services in the first quarter worth approximately $26,000. Sandy Spring Bank raised its stake in shares of Discover Financial Services by 133.3% in the fourth quarter. Sandy Spring Bank now owns 273 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 156 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $31,000. Horizon Bancorp Inc. IN raised its stake in shares of Discover Financial Services by 76.1% in the first quarter. Horizon Bancorp Inc. IN now owns 347 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Finally, Compass Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $34,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

NYSE DFS traded up $0.13 during trading hours on Tuesday, reaching $88.60. 77,462 shares of the stock traded hands, compared to its average volume of 2,357,829. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $100.18 and a two-hundred day simple moving average of $102.93. Discover Financial Services has a 1 year low of $87.45 and a 1 year high of $122.50. The company has a market cap of $22.15 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.44.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $3.54 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.16). Discover Financial Services had a return on equity of 29.65% and a net margin of 21.51%. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the business posted $3.96 earnings per share. The company’s revenue was up 20.7% compared to the same quarter last year. On average, analysts predict that Discover Financial Services will post 12.95 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.16%. The ex-dividend date was Wednesday, August 23rd. Discover Financial Services’s dividend payout ratio is presently 19.40%.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group decreased their price target on Discover Financial Services from $128.00 to $109.00 and set a “buy” rating for the company in a research report on Monday, August 21st. Stephens reissued an “equal weight” rating and set a $116.00 price objective on shares of Discover Financial Services in a report on Tuesday, August 15th. Piper Sandler lowered Discover Financial Services from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $130.00 to $112.00 in a report on Friday, July 21st. Citigroup reduced their price objective on Discover Financial Services from $119.00 to $108.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Finally, Bank of America increased their price objective on Discover Financial Services from $114.00 to $119.00 in a report on Thursday, June 15th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $113.13.

Discover Financial Services Profile

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.