Natixis Advisors LLC Lowers Stake in Discover Financial Services (NYSE:DFS)

Natixis Advisors LLC lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 4.6% in the second quarter, Holdings Channel reports. The institutional investor owned 164,461 shares of the financial services provider’s stock after selling 8,009 shares during the period. Natixis Advisors LLC’s holdings in Discover Financial Services were worth $21,513,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the 2nd quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Discover Financial Services by 72.5% during 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 purchasing an additional 95 shares during the last quarter. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at $25,000. Riverview Trust Co purchased a new stake in shares of Discover Financial Services during the 1st quarter valued at $34,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of Discover Financial Services during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of DFS opened at $138.12 on Wednesday. The business’s 50-day moving average is $133.73 and its two-hundred day moving average is $127.45. The company has a market capitalization of $34.64 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.96 and a beta of 1.43. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the company posted $3.54 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts predict that Discover Financial Services will post 12.75 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, August 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Analyst Ratings Changes

Several brokerages have recently commented on DFS. Barclays increased their price objective on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Jefferies Financial Group upped their target price on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. BTIG Research began coverage on Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Finally, Royal Bank of Canada upped their target price on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $132.94.

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; 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.