Park Place Capital Corp Decreases Holdings in Discover Financial Services (NYSE:DFS)

Park Place Capital Corp trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 49.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,936 shares of the financial services provider’s stock after selling 1,908 shares during the period. Park Place Capital Corp’s holdings in Discover Financial Services were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Partnership Wealth Management LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth approximately $31,000. Riverview Trust Co purchased a new position in shares of Discover Financial Services during the 1st quarter worth approximately $34,000. New Covenant Trust Company N.A. purchased a new position in shares of Discover Financial Services during the 1st quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 3.7 %

Shares of Discover Financial Services stock traded down $4.81 during trading hours on Monday, hitting $124.28. 558,494 shares of the company’s stock traded hands, compared to its average volume of 1,793,321. The company has a market cap of $31.17 billion, a PE ratio of 14.26, a PEG ratio of 0.90 and a beta of 1.43. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The stock has a 50 day simple moving average of $130.48 and a 200-day simple moving average of $123.47. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned $3.54 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 12.23 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a $0.70 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.25%. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. BTIG Research started coverage on Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods raised their price objective on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, StockNews.com started coverage on Discover Financial Services in a report on Wednesday, July 31st. They set a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $131.33.

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; 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.