Caprock Group LLC Purchases 4,725 Shares of Discover Financial Services (NYSE:DFS)

Caprock Group LLC increased its position in shares of Discover Financial Services (NYSE:DFS) by 215.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,914 shares of the financial services provider’s stock after buying an additional 4,725 shares during the period. Caprock Group LLC’s holdings in Discover Financial Services were worth $905,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DFS. Lynch & Associates IN boosted its holdings in Discover Financial Services by 0.7% during the second quarter. Lynch & Associates IN now owns 29,018 shares of the financial services provider’s stock valued at $3,796,000 after acquiring an additional 208 shares during the period. Kerusso Capital Management LLC bought a new stake in Discover Financial Services during the 2nd quarter valued at approximately $3,748,000. Acadian Asset Management LLC boosted its stake in Discover Financial Services by 3,445.0% during the 2nd quarter. Acadian Asset Management LLC now owns 5,991 shares of the financial services provider’s stock valued at $783,000 after purchasing an additional 5,822 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Discover Financial Services by 62.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,182 shares of the financial services provider’s stock valued at $285,000 after buying an additional 835 shares during the last quarter. Finally, Patron Partners LLC increased its position in Discover Financial Services by 4.8% in the 2nd quarter. Patron Partners LLC now owns 4,406 shares of the financial services provider’s stock worth $576,000 after buying an additional 201 shares during the period. 86.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Barclays raised their price target on shares of 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 shares of Discover Financial Services in a research report on Monday. They set a “hold” rating for the company. Jefferies Financial Group raised their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, BMO Capital Markets boosted their price objective on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and an average price target of $132.94.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $130.34 on Wednesday. The business’s fifty day moving average is $133.99 and its two-hundred day moving average is $127.89. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The firm has a market cap of $32.72 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.86 and a beta of 1.42. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the company earned $3.54 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that Discover Financial Services will post 12.87 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. Discover Financial Services’s payout ratio is 31.93%.

Discover Financial Services 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.