Citizens Financial Group Inc. RI Boosts Stake in Discover Financial Services (NYSE:DFS)

Citizens Financial Group Inc. RI lifted its position in Discover Financial Services (NYSE:DFS) by 146.0% in the 2nd quarter, Holdings Channel reports. The fund owned 3,889 shares of the financial services provider’s stock after acquiring an additional 2,308 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Discover Financial Services were worth $509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Discover Financial Services in the second quarter worth $26,000. Y.D. More Investments Ltd lifted its position in Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares in the last quarter. Larson Financial Group LLC grew its holdings in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares during the period. Finally, Riverview Trust Co bought a new position in shares of Discover Financial Services during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 1.1 %

NYSE:DFS opened at $136.11 on Thursday. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The business has a fifty day moving average price of $134.31 and a 200-day moving average price of $128.31. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61.

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

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Wall Street Analysts Forecast Growth

DFS has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada lifted their price target on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Jefferies Financial Group lifted their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Barclays increased their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, BMO Capital Markets boosted their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Thirteen research 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, the company currently has an average rating of “Hold” and an average target price of $132.94.

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.