Discover Financial Services (NYSE:DFS) Shares Sold by MAI Capital Management

MAI Capital Management decreased its position in shares of Discover Financial Services (NYSE:DFS) by 41.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,692 shares of the financial services provider’s stock after selling 2,615 shares during the quarter. MAI Capital Management’s holdings in Discover Financial Services were worth $518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DFS. Opal Wealth Advisors LLC acquired a new stake in Discover Financial Services in the 2nd quarter valued at $26,000. DiNuzzo Private Wealth Inc. grew its stake in Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 157 shares during the period. Y.D. More Investments Ltd grew its stake in Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 95 shares during the period. Finally, Larson Financial Group LLC grew its stake in Discover Financial Services by 348.2% in the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analysts Set New Price Targets

DFS has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Evercore ISI raised their price objective on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus price target of $138.81.

Discover Financial Services Stock Up 2.4 %

NYSE DFS opened at $179.07 on Friday. Discover Financial Services has a 52 week low of $85.19 and a 52 week high of $188.26. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The business’s fifty day simple moving average is $152.29 and its 200-day simple moving average is $137.63. The firm has a market cap of $44.96 billion, a PE ratio of 14.45, a P/E/G ratio of 1.10 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the firm earned $2.59 EPS. As a group, equities analysts anticipate that Discover Financial Services will post 13.34 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.56%. Discover Financial Services’s dividend payout ratio (DPR) is currently 22.60%.

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; 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.