King Luther Capital Management Corp Sells 1,103 Shares of Discover Financial Services (NYSE:DFS)

King Luther Capital Management Corp trimmed its position in Discover Financial Services (NYSE:DFS) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,076 shares of the financial services provider’s stock after selling 1,103 shares during the period. King Luther Capital Management Corp’s holdings in Discover Financial Services were worth $4,981,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the 2nd quarter valued at $26,000. Y.D. More Investments Ltd boosted its stake in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares in the last quarter. Larson Financial Group LLC grew its holdings in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares during the period. Finally, Riverview Trust Co bought a new position in shares of Discover Financial Services during the first quarter valued at approximately $34,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

DFS opened at $142.49 on Friday. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61. The company has a market cap of $35.73 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.86 and a beta of 1.42. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The company’s 50 day moving average is $134.78 and its 200 day moving average is $128.58.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the firm posted $3.54 EPS. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that Discover Financial Services will post 12.87 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s payout ratio is 31.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DFS. Jefferies Financial Group boosted their price target on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada increased their target price on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Tuesday. They set a “hold” rating on the stock. Finally, BMO Capital Markets raised their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $132.94.

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.