Discover Financial Services (NYSE:DFS) Stake Raised by Quest Partners LLC

Quest Partners LLC boosted its holdings in shares of Discover Financial Services (NYSE:DFS) by 274.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,333 shares of the financial services provider’s stock after acquiring an additional 3,175 shares during the quarter. Quest Partners LLC’s holdings in Discover Financial Services were worth $567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Discover Financial Services in the fourth quarter worth $322,199,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Discover Financial Services during the 4th quarter worth about $121,113,000. Envestnet Asset Management Inc. lifted its holdings in shares of Discover Financial Services by 60.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after buying an additional 803,738 shares during the last quarter. Elser Financial Planning Inc bought a new stake in Discover Financial Services in the second quarter worth approximately $91,044,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Discover Financial Services in the 1st quarter valued at $71,693,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DFS. JPMorgan Chase & Co. raised their target price on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Jefferies Financial Group raised their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. StockNews.com initiated coverage on Discover Financial Services in a research report on Monday. They issued a “hold” rating on the stock. Finally, BTIG Research began coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and an average price target of $132.94.

Discover Financial Services Stock Down 1.3 %

Shares of DFS opened at $128.68 on Thursday. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $147.61. The stock has a market cap of $32.27 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 0.86 and a beta of 1.42. The company has a 50-day moving average price of $133.92 and a two-hundred day moving average price of $127.90. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating the consensus estimate of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the firm earned $3.54 EPS. Discover Financial Services’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Discover Financial Services will post 12.87 EPS 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. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 22nd. 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.