Discover Financial Services (NYSE:DFS) Stock Position Raised by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in shares of Discover Financial Services (NYSE:DFS) by 74.3% during the third quarter, Holdings Channel reports. The firm owned 5,007 shares of the financial services provider’s stock after purchasing an additional 2,135 shares during the quarter. OLD National Bancorp IN’s holdings in Discover Financial Services were worth $703,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DFS. Cooke & Bieler LP lifted its stake in Discover Financial Services by 5.1% during the second quarter. Cooke & Bieler LP now owns 1,281,950 shares of the financial services provider’s stock valued at $167,692,000 after buying an additional 62,595 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Discover Financial Services by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 1,181,333 shares of the financial services provider’s stock valued at $154,064,000 after acquiring an additional 73,902 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in Discover Financial Services by 0.5% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,162,495 shares of the financial services provider’s stock worth $152,066,000 after purchasing an additional 6,042 shares during the period. Elser Financial Planning Inc purchased a new position in Discover Financial Services during the 2nd quarter worth approximately $91,044,000. Finally, Samlyn Capital LLC raised its stake in Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after purchasing an additional 508,504 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $146.55 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $137.53 and a 200-day simple moving average of $131.23. The stock has a market capitalization of $36.75 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.94 and a beta of 1.41. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $152.90.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. During the same quarter in the previous year, the business earned $2.59 EPS. On average, sell-side analysts expect that Discover Financial Services will post 13.15 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Analyst Ratings Changes

Several analysts have recently commented on DFS shares. BMO Capital Markets raised their target price on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Royal Bank of Canada lifted their target price on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday. Evercore ISI increased their price target on shares of Discover Financial Services from $140.00 to $156.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. StockNews.com began coverage on shares of Discover Financial Services in a research report on Saturday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $136.12.

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; 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.