Denali Advisors LLC Has $671,000 Position in Discover Financial Services (NYSE:DFS)

Denali Advisors LLC decreased its position in shares of Discover Financial Services (NYSE:DFS) by 25.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,116 shares of the financial services provider’s stock after selling 1,707 shares during the period. Denali Advisors LLC’s holdings in Discover Financial Services were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. HFG Advisors Inc. bought a new stake in Discover Financial Services during the first quarter worth $200,000. SteelPeak Wealth LLC boosted its stake in Discover Financial Services by 159.9% in the first quarter. SteelPeak Wealth LLC now owns 27,705 shares of the financial services provider’s stock valued at $3,632,000 after buying an additional 17,046 shares in the last quarter. River Street Advisors LLC boosted its stake in Discover Financial Services by 1.4% in the first quarter. River Street Advisors LLC now owns 9,932 shares of the financial services provider’s stock valued at $1,302,000 after buying an additional 137 shares in the last quarter. Vicus Capital bought a new position in Discover Financial Services in the first quarter valued at about $224,000. Finally, Trust Co. of Virginia VA acquired a new position in Discover Financial Services during the first quarter worth about $223,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Down 1.1 %

Shares of NYSE:DFS opened at $132.06 on Thursday. Discover Financial Services has a 1 year low of $79.04 and a 1 year 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. The business’s 50-day moving average is $125.02 and its 200-day moving average is $119.23. The company has a market capitalization of $33.12 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 0.81 and a beta of 1.44.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share 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 the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same quarter in the previous year, the firm posted $3.58 earnings per share. Equities research analysts predict that Discover Financial Services will post 11.47 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analyst Ratings Changes

A number of research firms have recently weighed in on DFS. Jefferies Financial Group raised their price target on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Seaport Res Ptn cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Barclays increased their price target on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. BTIG Research started coverage on Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, HSBC upped their target price on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company 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.