Discover Financial Services (NYSE:DFS) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,818 shares of the financial services provider’s stock after selling 364 shares during the period. NorthRock Partners LLC’s holdings in Discover Financial Services were worth $317,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Flputnam Investment Management Co. lifted its holdings in shares of Discover Financial Services by 7.9% during the third quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 193 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Discover Financial Services by 335.4% in the 4th quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after purchasing an additional 49,145 shares during the period. Allspring Global Investments Holdings LLC grew its position in Discover Financial Services by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after purchasing an additional 16,532 shares in the last quarter. Principal Securities Inc. acquired a new stake in Discover Financial Services during the 4th quarter valued at $1,073,000. Finally, Vest Financial LLC lifted its holdings in shares of Discover Financial Services by 18.8% in the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock valued at $13,685,000 after purchasing an additional 19,283 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DFS. HSBC increased their price objective on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. The Goldman Sachs Group cut their target price on shares of Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, January 19th. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Finally, Wolfe Research restated a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and an average price target of $126.29.

Check Out Our Latest Analysis on DFS

Discover Financial Services Stock Performance

Shares of NYSE DFS traded up $0.61 during trading hours on Friday, hitting $125.42. 1,084,114 shares of the company’s stock were exchanged, compared to its average volume of 1,295,473. The company’s 50-day moving average price is $125.06 and its 200-day moving average price is $111.31. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $131.65. The stock has a market capitalization of $31.43 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.76 and a beta of 1.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12.

Discover Financial Services (NYSE:DFSGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the prior year, the company posted $3.58 earnings per share. On average, sell-side analysts expect that Discover Financial Services will post 11.48 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. Discover Financial Services’s payout ratio is 31.93%.

About Discover Financial Services

(Free Report)

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.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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