Swiss National Bank Lowers Stock Holdings in Discover Financial Services (NYSE:DFS)

Swiss National Bank lowered its holdings in Discover Financial Services (NYSE:DFS) by 12.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 816,890 shares of the financial services provider’s stock after selling 119,800 shares during the quarter. Swiss National Bank owned 0.33% of Discover Financial Services worth $70,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Discover Financial Services in the third quarter valued at about $30,000. Resurgent Financial Advisors LLC acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $31,000. Pinnacle Bancorp Inc. grew its holdings in Discover Financial Services by 282.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 282 shares in the last quarter. Compass Wealth Management LLC acquired a new position in Discover Financial Services during the 4th quarter worth approximately $34,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of Discover Financial Services during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 83.63% of the company’s stock.

Analysts Set New Price Targets

DFS has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, January 19th. BMO Capital Markets lowered their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, January 19th. Barclays lowered their price objective on shares of Discover Financial Services from $124.00 to $112.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. Finally, Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the stock from $94.00 to $116.00 in a research note on Wednesday, December 6th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and an average target price of $111.94.

View Our Latest Research Report on DFS

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $105.66 on Wednesday. The firm’s 50-day simple moving average is $106.05 and its 200 day simple moving average is $95.99. The stock has a market cap of $26.42 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.90 and a beta of 1.43. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $122.50. 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 quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.96). Discover Financial Services had a net margin of 14.30% and a return on equity of 21.81%. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the firm earned $3.77 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities analysts expect that Discover Financial Services will post 11.21 EPS for the current year.

Discover Financial Services Dividend Announcement

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

Insider Transactions at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The stock was 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 in the company, valued at $1,980,233.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

Discover Financial Services Profile

(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.

Further Reading

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

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