Oppenheimer & Co. Inc. Sells 2,415 Shares of Discover Financial Services (NYSE:DFS)

Oppenheimer & Co. Inc. trimmed its position in Discover Financial Services (NYSE:DFS) by 13.0% in the fourth quarter, HoldingsChannel reports. The firm owned 16,190 shares of the financial services provider’s stock after selling 2,415 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Discover Financial Services were worth $2,805,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Hemington Wealth Management grew its position in Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 50 shares in the last quarter. UMB Bank n.a. grew its position in shares of Discover Financial Services by 0.6% during the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 56 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Discover Financial Services by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 57 shares during the period. Invst LLC grew its position in shares of Discover Financial Services by 0.9% during the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 62 shares during the period. Finally, CTC Alternative Strategies Ltd. grew its position in shares of Discover Financial Services by 3.2% during the 3rd quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock valued at $287,000 after acquiring an additional 63 shares during the period. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $195.38 on Monday. Discover Financial Services has a 12 month low of $118.74 and a 12 month high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $49.16 billion, a P/E ratio of 12.24, a PEG ratio of 1.51 and a beta of 1.46. The firm’s 50 day moving average is $188.81 and its 200 day moving average is $165.78.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, sell-side analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.43%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods increased their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays increased their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. Finally, UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $191.91.

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.