SeaCrest Wealth Management LLC Sells 736 Shares of Discover Financial Services (NYSE:DFS)

SeaCrest Wealth Management LLC decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 16.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,652 shares of the financial services provider’s stock after selling 736 shares during the period. SeaCrest Wealth Management LLC’s holdings in Discover Financial Services were worth $479,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Partnership Wealth Management LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC bought a new stake in Discover Financial Services during the fourth quarter valued at about $28,000. MeadowBrook Investment Advisors LLC bought a new position in shares of Discover Financial Services in the fourth quarter worth about $31,000. Riverview Trust Co bought a new stake in Discover Financial Services during the 1st quarter valued at approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at approximately $35,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $133.60 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $33.50 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 0.79 and a beta of 1.44. The firm’s 50-day moving average price is $124.94 and its two-hundred day moving average price is $119.04. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $133.78.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the prior year, the firm posted $3.58 earnings per share. On average, equities analysts predict that Discover Financial Services will post 11.47 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.10%. Discover Financial Services’s payout ratio is 31.93%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DFS. HSBC increased their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. lifted their target price on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Barclays lifted their price objective on Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a report on Friday, April 19th. Finally, Wells Fargo & Company raised their target price on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Company 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.