Chevy Chase Trust Holdings LLC Decreases Position in Discover Financial Services (NYSE:DFS)

Chevy Chase Trust Holdings LLC cut its stake in shares of Discover Financial Services (NYSE:DFS) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,676 shares of the financial services provider’s stock after selling 1,040 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Discover Financial Services were worth $18,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of DFS. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new position in Discover Financial Services during the 4th quarter worth $31,000. Riverview Trust Co purchased a new position in Discover Financial Services during the 1st quarter worth $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Discover Financial Services during the 4th quarter worth $35,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DFS has been the topic of several research reports. HSBC raised their price objective on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Keefe, Bruyette & Woods increased their target price on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday. Jefferies Financial Group increased their target price on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their price objective 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. Finally, BTIG Research started coverage on Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $129.78.

Discover Financial Services Stock Performance

Shares of DFS traded down $0.80 during mid-day trading on Thursday, reaching $129.20. The company had a trading volume of 693,288 shares, compared to its average volume of 1,849,927. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $133.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $32.40 billion, a P/E ratio of 14.73, a PEG ratio of 0.78 and a beta of 1.44. The stock has a 50 day moving average of $125.43 and a two-hundred day moving average of $120.05.

Discover Financial Services (NYSE:DFS) last released its quarterly 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). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same period in the previous year, the company posted $3.58 EPS. On average, analysts expect that Discover Financial Services will post 11.47 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were issued a $0.70 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. Discover Financial Services’s payout ratio is 31.93%.

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.