3,170 Shares in Discover Financial Services (NYSE:DFS) Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC purchased a new stake in shares of Discover Financial Services (NYSE:DFS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,170 shares of the financial services provider’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Axxcess Wealth Management LLC boosted its stake in Discover Financial Services by 135.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 4,478 shares during the period. Scotia Capital Inc. boosted its position in shares of Discover Financial Services by 57.6% in the fourth quarter. Scotia Capital Inc. now owns 25,404 shares of the financial services provider’s stock valued at $2,855,000 after acquiring an additional 9,287 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Discover Financial Services in the first quarter worth $983,000. Brave Warrior Advisors LLC increased its position in Discover Financial Services by 10.6% during the fourth quarter. Brave Warrior Advisors LLC now owns 2,633,167 shares of the financial services provider’s stock worth $295,968,000 after acquiring an additional 251,909 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Discover Financial Services by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock valued at $8,197,000 after purchasing an additional 23,702 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DFS shares. BMO Capital Markets raised their price target on shares of 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. Jefferies Financial Group boosted their price target on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Royal Bank of Canada raised their price objective 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. StockNews.com began coverage on Discover Financial Services in a research report on Wednesday. They set a “hold” rating on the stock. Finally, Barclays raised their target price on 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. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $132.94.

Discover Financial Services Stock Performance

NYSE:DFS opened at $136.49 on Wednesday. The stock has a market capitalization of $34.23 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The firm has a 50 day moving average of $134.74 and a 200-day moving average of $128.93. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28.

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 analysts’ consensus estimates of $3.06 by $3.00. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates 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 was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.54 earnings per share. As a group, sell-side analysts anticipate that Discover Financial Services will post 12.87 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

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.