Discover Financial Services (NYSE:DFS) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of Discover Financial Services (NYSE:DFS) by 0.3% in the first quarter, Holdings Channel.com reports. The fund owned 620,722 shares of the financial services provider’s stock after selling 2,031 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Discover Financial Services were worth $81,370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DFS. Partnership Wealth Management LLC acquired a new position in Discover Financial Services in the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $28,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth about $31,000. Riverview Trust Co acquired a new position in Discover Financial Services during the first quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in Discover Financial Services during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 1.1 %

Shares of NYSE DFS opened at $132.06 on Friday. The stock has a fifty day simple moving average of $125.08 and a 200-day simple moving average of $119.32. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $133.78. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $33.12 billion, a PE ratio of 15.06, a PEG ratio of 0.81 and a beta of 1.44.

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

Discover Financial Services Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DFS. JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Wells Fargo & Company lifted their price target on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. StockNews.com began coverage on shares of Discover Financial Services in a report on Saturday, June 29th. They issued a “hold” rating for the company. Finally, Barclays lifted their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and an average 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.