Raleigh Capital Management Inc. Purchases 282 Shares of Discover Financial Services (NYSE:DFS)

Raleigh Capital Management Inc. boosted its position in Discover Financial Services (NYSE:DFS) by 37.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,035 shares of the financial services provider’s stock after purchasing an additional 282 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Discover Financial Services were worth $145,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DFS. Opal Wealth Advisors LLC bought a new position in Discover Financial Services in the second quarter worth about $26,000. DiNuzzo Private Wealth Inc. raised its holdings in Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 95 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Discover Financial Services by 348.2% during the second 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 in the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Trading Down 0.7 %

Shares of DFS opened at $145.45 on Wednesday. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $152.90. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average is $137.91 and its two-hundred day moving average is $131.37. The stock has a market cap of $36.48 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the company posted $2.59 EPS. Research analysts forecast that Discover Financial Services will post 13.15 earnings per share for the current fiscal 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 paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.93%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Analyst Upgrades and Downgrades

DFS has been the topic of several recent analyst reports. Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. BMO Capital Markets increased 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 report on Friday, July 19th. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, Jefferies Financial Group upped their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $136.12.

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; 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.