State of Alaska Department of Revenue Sells 15,278 Shares of Discover Financial Services (NYSE:DFS)

State of Alaska Department of Revenue reduced its position in shares of Discover Financial Services (NYSE:DFS) by 30.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,062 shares of the financial services provider’s stock after selling 15,278 shares during the quarter. State of Alaska Department of Revenue’s holdings in Discover Financial Services were worth $4,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Partnership Wealth Management LLC purchased a new position in shares of Discover Financial Services in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth $28,000. Riverview Trust Co purchased a new stake in shares of Discover Financial Services in the 1st quarter worth $34,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth $31,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Discover Financial Services in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com initiated coverage on Discover Financial Services in a report on Saturday, June 29th. They set a “hold” rating for the company. HSBC increased their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. JPMorgan Chase & Co. increased their price objective 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. Finally, Barclays raised their price objective on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Trading Down 1.1 %

Shares of Discover Financial Services stock opened at $132.06 on Friday. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $133.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $125.08 and a 200-day moving average price of $119.32. The firm has a market cap of $33.12 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.81 and a beta of 1.44.

Discover Financial Services (NYSE:DFS) last released 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 firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $3.58 EPS. Equities research analysts anticipate that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a $0.70 dividend. 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 presently 31.93%.

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.