Discover Financial Services (NYSE:DFS) Shares Sold by Park Place Capital Corp

Park Place Capital Corp cut its stake in shares of Discover Financial Services (NYSE:DFS) by 35.2% in the first quarter, Holdings Channel.com reports. The fund owned 3,844 shares of the financial services provider’s stock after selling 2,084 shares during the period. Park Place Capital Corp’s holdings in Discover Financial Services were worth $504,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DFS. Mutual Advisors LLC boosted its stake in shares of Discover Financial Services by 22.9% in the third quarter. Mutual Advisors LLC now owns 4,393 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 818 shares during the period. Trexquant Investment LP boosted its stake in shares of Discover Financial Services by 105.0% in the third quarter. Trexquant Investment LP now owns 10,586 shares of the financial services provider’s stock valued at $917,000 after purchasing an additional 5,423 shares during the period. Bank of Nova Scotia boosted its stake in shares of Discover Financial Services by 11.6% in the third quarter. Bank of Nova Scotia now owns 24,829 shares of the financial services provider’s stock valued at $2,151,000 after purchasing an additional 2,579 shares during the period. Teza Capital Management LLC purchased a new position in shares of Discover Financial Services in the third quarter valued at approximately $494,000. Finally, Sherbrooke Park Advisers LLC purchased a new position in shares of Discover Financial Services in the third quarter valued at approximately $333,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $132.97 on Tuesday. The firm’s fifty day simple moving average is $124.81 and its 200-day simple moving average is $118.86. The stock has a market capitalization of $33.35 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.79 and a beta of 1.44. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $133.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same period in the previous year, the firm earned $3.58 earnings per share. As a group, equities analysts forecast that Discover Financial Services will post 11.47 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were paid a $0.70 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.11%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analysts Set New Price Targets

Several research analysts have recently commented on DFS shares. BTIG Research assumed coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. StockNews.com assumed coverage on shares of Discover Financial Services in a research note on Saturday. They issued a “hold” rating for the company. Finally, HSBC lifted their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and an average target price of $126.29.

Discover Financial Services 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.