Discover Financial Services (DFS) Shares Sold by HPM Partners LLC
HPM Partners LLC cut its position in Discover Financial Services (NYSE:DFS) by 12.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,826 shares of the financial services provider’s stock after selling 9,184 shares during the quarter. HPM Partners LLC’s holdings in Discover Financial Services were worth $4,353,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Sandy Spring Bank grew its stake in Discover Financial Services by 181.5% in the 2nd quarter. Sandy Spring Bank now owns 1,689 shares of the financial services provider’s stock valued at $119,000 after buying an additional 1,089 shares during the last quarter. Signaturefd LLC acquired a new position in Discover Financial Services in the 1st quarter valued at $143,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Discover Financial Services by 8,341.7% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,026 shares of the financial services provider’s stock valued at $143,000 after buying an additional 2,002 shares during the last quarter. Private Capital Group LLC grew its stake in Discover Financial Services by 8,258.3% in the 1st quarter. Private Capital Group LLC now owns 2,006 shares of the financial services provider’s stock valued at $144,000 after buying an additional 1,982 shares during the last quarter. Finally, Edge Wealth Management LLC acquired a new position in Discover Financial Services in the 2nd quarter valued at $155,000. Institutional investors and hedge funds own 85.79% of the company’s stock.
A number of research firms recently issued reports on DFS. Sandler O’Neill reiterated a “buy” rating and issued a $87.00 target price on shares of Discover Financial Services in a research note on Friday, July 27th. Zacks Investment Research lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $78.00 to $81.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Nine investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Discover Financial Services currently has a consensus rating of “Buy” and a consensus target price of $85.27.
NYSE DFS opened at $77.10 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $26.58 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.91 and a beta of 1.52. Discover Financial Services has a 52-week low of $58.48 and a 52-week high of $81.93.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.03. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.63 billion. Discover Financial Services had a net margin of 19.07% and a return on equity of 24.25%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. research analysts forecast that Discover Financial Services will post 7.8 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Stockholders of record on Thursday, August 23rd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.35. The ex-dividend date was Wednesday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 26.76%.
Discover Financial Services declared that its board has approved a share repurchase program on Thursday, July 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 11.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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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