Amalgamated Bank Grows Position in Discover Financial Services (NYSE:DFS)

Amalgamated Bank boosted its holdings in shares of Discover Financial Services (NYSE:DFS) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,152 shares of the financial services provider’s stock after purchasing an additional 2,815 shares during the period. Amalgamated Bank’s holdings in Discover Financial Services were worth $6,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Carmichael Hill & Associates Inc. acquired a new stake in Discover Financial Services during the second quarter worth about $35,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $31,000. Compass Wealth Management LLC purchased a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $34,000. Aspire Private Capital LLC lifted its stake in shares of Discover Financial Services by 180.0% in the 4th quarter. Aspire Private Capital LLC now owns 350 shares of the financial services provider’s stock valued at $34,240,500,000 after purchasing an additional 225 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in Discover Financial Services during the third quarter worth $30,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO John Greene sold 35,191 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the completion of the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on DFS shares. Barclays lowered their price target on Discover Financial Services from $124.00 to $112.00 and set an “equal weight” rating on the stock in a research report on Friday, January 19th. HSBC lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating and cut their price target for the stock from $121.00 to $107.00 in a report on Friday, January 19th. BMO Capital Markets decreased their price objective on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $94.00 to $116.00 in a research note on Wednesday, December 6th. Finally, Morgan Stanley decreased their price target on shares of Discover Financial Services from $95.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 16th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $111.94.

Get Our Latest Stock Report on Discover Financial Services

Discover Financial Services Trading Down 0.9 %

DFS opened at $105.66 on Wednesday. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $122.50. The business’s 50 day moving average is $106.05 and its two-hundred day moving average is $95.99. The company has a quick ratio of 1.12, a current ratio of 1.06 and a debt-to-equity ratio of 1.48.

Discover Financial Services (NYSE:DFSGet Free Report) last announced its earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.96). The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. Discover Financial Services had a return on equity of 21.81% and a net margin of 14.30%. Discover Financial Services’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $3.77 EPS. On average, research analysts predict that Discover Financial Services will post 11.21 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.89%.

About Discover Financial Services

(Free Report)

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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