Wolverine Asset Management LLC Purchases 700 Shares of Discover Financial Services (NYSE:DFS)

Wolverine Asset Management LLC raised its position in shares of Discover Financial Services (NYSE:DFS) by 16.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the financial services provider’s stock after purchasing an additional 700 shares during the period. Wolverine Asset Management LLC’s holdings in Discover Financial Services were worth $701,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the second quarter valued at about $26,000. DiNuzzo Private Wealth Inc. increased its position in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 157 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 95 shares during the period. Finally, Larson Financial Group LLC increased its holdings in shares of Discover Financial Services by 348.2% in the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares during the period. 86.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DFS shares. Barclays boosted their target price on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. BMO Capital Markets lifted their target price on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Evercore ISI raised their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $138.81.

Discover Financial Services Stock Down 1.8 %

Discover Financial Services stock opened at $174.65 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. The stock has a market capitalization of $43.85 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41. The business has a 50 day simple moving average of $145.33 and a 200-day simple moving average of $135.04. Discover Financial Services has a 12 month low of $84.00 and a 12 month high of $188.26.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data 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. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the business posted $2.59 earnings per share. On average, analysts anticipate that Discover Financial Services will post 13.22 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is presently 22.60%.

About Discover Financial Services

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.