Kingsview Wealth Management LLC Acquires 119 Shares of Discover Financial Services (NYSE:DFS)

Kingsview Wealth Management LLC raised its stake in Discover Financial Services (NYSE:DFS) by 7.7% in the third quarter, Holdings Channel reports. The fund owned 1,664 shares of the financial services provider’s stock after purchasing an additional 119 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Discover Financial Services were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new position in Discover Financial Services in the 2nd quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of 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 last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Discover Financial Services by 147.8% during 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 in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Discover Financial Services by 72.5% during the 2nd 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 during the last quarter. Finally, Larson Financial Group LLC increased its holdings 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 worth $33,000 after purchasing an additional 195 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Discover Financial Services Price Performance

Discover Financial Services stock opened at $182.43 on Friday. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.17 and a beta of 1.41. Discover Financial Services has a 52-week low of $89.58 and a 52-week high of $188.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The stock’s 50 day moving average price is $156.66 and its two-hundred day moving average price is $139.67.

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 analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the company posted $2.59 earnings per share. On average, equities analysts predict that Discover Financial Services will post 13.34 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s payout ratio is 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.