Discover Financial Services (NYSE:DFS) Short Interest Update

Discover Financial Services (NYSE:DFS) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 2,310,000 shares, an increase of 5.5% from the May 31st total of 2,190,000 shares. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is currently 1.9 days. Approximately 0.9% of the company’s shares are short sold.

Discover Financial Services Trading Down 1.1 %

Shares of Discover Financial Services stock opened at $132.06 on Friday. The stock has a market cap of $33.12 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The firm has a fifty day moving average price of $125.08 and a 200 day moving average price of $119.32. 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.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analyst estimates 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 period in the prior year, the business 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 Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC boosted its stake in shares of Discover Financial Services by 335.4% during the 4th quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after acquiring an additional 49,145 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Discover Financial Services by 238.7% in the 4th quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock worth $1,662,000 after purchasing an additional 10,418 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Discover Financial Services by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after purchasing an additional 16,532 shares in the last quarter. Principal Securities Inc. acquired a new stake in Discover Financial Services in the fourth quarter valued at approximately $1,073,000. Finally, Vest Financial LLC increased its position in shares of Discover Financial Services by 18.8% in the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock valued at $13,685,000 after buying an additional 19,283 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. BTIG Research began coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. StockNews.com began coverage on Discover Financial Services in a research note on Saturday, June 29th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company boosted their price target on 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. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $126.29.

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.