Whitnell & Co. Increases Holdings in Discover Financial Services (NYSE:DFS)

Whitnell & Co. lifted its position in Discover Financial Services (NYSE:DFS) by 8.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,426 shares of the financial services provider’s stock after purchasing an additional 1,911 shares during the period. Whitnell & Co.’s holdings in Discover Financial Services were worth $2,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Virtus ETF Advisers LLC acquired a new position in shares of Discover Financial Services in the 2nd quarter valued at $27,000. Executive Wealth Management LLC boosted its stake in shares of Discover Financial Services by 122.4% during the 3rd quarter. Executive Wealth Management LLC now owns 367 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. Semmax Financial Advisors Inc. boosted its stake in shares of Discover Financial Services by 75.6% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 180 shares in the last quarter. Next Capital Management LLC purchased a new stake in shares of Discover Financial Services during the 2nd quarter worth about $34,000. Finally, Doyle Wealth Management purchased a new stake in shares of Discover Financial Services during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 84.95% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Monday, September 9th. ValuEngine lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Credit Suisse Group increased their target price on shares of Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley set a $97.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Barclays increased their target price on shares of Discover Financial Services from $87.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Discover Financial Services currently has an average rating of “Hold” and an average target price of $86.65.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Discover Financial Services stock traded up $0.36 during midday trading on Friday, reaching $84.71. The company had a trading volume of 1,184,816 shares, compared to its average volume of 1,944,941. The company has a market capitalization of $26.05 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.24 and a beta of 1.62. Discover Financial Services has a 12-month low of $54.36 and a 12-month high of $92.98. The firm’s fifty day simple moving average is $80.22 and its 200-day simple moving average is $80.45. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.28 and a quick ratio of 1.28.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.07. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.89 billion. Discover Financial Services had a net margin of 20.97% and a return on equity of 26.79%. Discover Financial Services’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. On average, analysts expect that Discover Financial Services will post 9.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, November 20th. Discover Financial Services’s dividend payout ratio is presently 22.59%.

Discover Financial Services Company Profile

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.

Recommended Story: What is a Roth IRA?

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

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

Leave a Reply

Your email address will not be published. Required fields are marked *

*