Discover Financial Services (NYSE:DFS) Position Reduced by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its position in shares of Discover Financial Services (NYSE:DFS) by 19.3% in the second quarter, HoldingsChannel.com reports. The firm owned 5,569 shares of the financial services provider’s stock after selling 1,331 shares during the period. First Horizon Advisors Inc.’s holdings in Discover Financial Services were worth $729,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DFS. J.Safra Asset Management Corp boosted its stake in Discover Financial Services by 24.4% during the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after buying an additional 76 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Discover Financial Services by 3.1% during the 1st quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 86 shares in the last quarter. Team Hewins LLC grew its stake in shares of Discover Financial Services by 5.5% in the 1st quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock worth $247,000 after purchasing an additional 98 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in shares of Discover Financial Services by 3.3% in the 4th quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 99 shares in the last quarter. Finally, Eagle Bluffs Wealth Management LLC raised its holdings in shares of Discover Financial Services by 0.8% in the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 14,382 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 108 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 1.0 %

Shares of DFS stock opened at $135.32 on Wednesday. The stock has a market cap of $33.94 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61. The stock has a fifty day moving average price of $131.80 and a 200 day moving average price of $125.58. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.12.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping the consensus estimate of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. Discover Financial Services’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the business earned $3.54 earnings per share. Analysts predict that Discover Financial Services will post 12.23 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. Discover Financial Services’s payout ratio is presently 31.93%.

Wall Street Analyst Weigh In

DFS has been the topic of several recent research reports. BTIG Research started coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Barclays boosted their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. StockNews.com started coverage on Discover Financial Services in a report on Friday, August 16th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Royal Bank of Canada boosted their price objective on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $131.33.

About Discover Financial Services

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.