Neuberger Berman Group LLC lifted its position in shares of Discover Financial Services (NYSE:DFS) by 34.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,808 shares of the financial services provider’s stock after purchasing an additional 22,201 shares during the quarter. Neuberger Berman Group LLC’s holdings in Discover Financial Services were worth $4,288,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in DFS. Smithfield Trust Co. raised its stake in shares of Discover Financial Services by 620.0% in the 2nd quarter. Smithfield Trust Co. now owns 720 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 620 shares during the period. Beese Fulmer Investment Management Inc. acquired a new stake in Discover Financial Services in the 2nd quarter valued at approximately $38,000. Ameritas Investment Company LLC bought a new stake in Discover Financial Services in the 1st quarter valued at approximately $42,000. South Dakota Investment Council acquired a new position in Discover Financial Services during the 1st quarter worth approximately $45,000. Finally, Bedel Financial Consulting Inc. boosted its position in Discover Financial Services by 53.9% during the 2nd quarter. Bedel Financial Consulting Inc. now owns 914 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 320 shares during the last quarter. 83.95% of the stock is owned by institutional investors.
Several brokerages recently commented on DFS. Royal Bank of Canada increased their price target on Discover Financial Services from $42.00 to $61.00 in a research report on Wednesday, June 3rd. Stephens increased their price objective on Discover Financial Services from $42.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $72.00 in a report on Monday, June 22nd. JMP Securities increased their price target on shares of Discover Financial Services from $48.00 to $58.00 and gave the company a “market outperform” rating in a research note on Friday, July 24th. Finally, ValuEngine upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $62.50.
In other Discover Financial Services news, Director Mary K. Bush sold 1,920 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $49.23, for a total value of $94,521.60. Following the completion of the sale, the director now owns 55,899 shares of the company’s stock, valued at approximately $2,751,907.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by insiders.
Discover Financial Services stock opened at $53.14 on Friday. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 16.82 and a beta of 1.88. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.70. Discover Financial Services has a 12 month low of $23.25 and a 12 month high of $87.43. The stock’s 50 day moving average is $54.18 and its 200-day moving average is $47.12.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.25). The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.63 billion. Discover Financial Services had a net margin of 7.65% and a return on equity of 10.45%. As a group, equities research analysts predict that Discover Financial Services will post 1.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Wednesday, August 19th. Discover Financial Services’s dividend payout ratio is 19.38%.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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