Cibc World Markets Corp Sells 8,978 Shares of Discover Financial Services (NYSE:DFS)

Cibc World Markets Corp decreased its holdings in Discover Financial Services (NYSE:DFS) by 18.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,639 shares of the financial services provider’s stock after selling 8,978 shares during the period. Cibc World Markets Corp’s holdings in Discover Financial Services were worth $6,867,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Discover Financial Services in the 4th quarter worth approximately $351,766,000. FMR LLC boosted its position in shares of Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after acquiring an additional 558,227 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Discover Financial Services during the fourth quarter worth $39,067,000. Raymond James Financial Inc. purchased a new position in Discover Financial Services during the fourth quarter valued at $38,489,000. Finally, Proficio Capital Partners LLC bought a new stake in Discover Financial Services in the 4th quarter valued at $36,219,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 3.9 %

Shares of DFS opened at $158.91 on Wednesday. The firm has a fifty day moving average price of $186.78 and a 200-day moving average price of $168.54. 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 firm has a market capitalization of $39.98 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.76%. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DFS. Royal Bank of Canada raised their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Barclays raised their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.