Valicenti Advisory Services Inc. raised its position in Discover Financial Services (NYSE:DFS) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,061 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the period. Discover Financial Services comprises about 1.6% of Valicenti Advisory Services Inc.’s investment portfolio, making the stock its 23rd largest position. Valicenti Advisory Services Inc.’s holdings in Discover Financial Services were worth $3,674,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Sandy Spring Bank lifted its holdings in shares of Discover Financial Services by 181.5% during the 2nd quarter. Sandy Spring Bank now owns 1,689 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 1,089 shares during the period. Private Capital Group LLC lifted its holdings in shares of Discover Financial Services by 8,258.3% during the 1st quarter. Private Capital Group LLC now owns 2,006 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 1,982 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Discover Financial Services by 8,341.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,026 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 2,002 shares during the period. Edge Wealth Management LLC purchased a new position in shares of Discover Financial Services during the 2nd quarter worth about $155,000. Finally, Manning & Napier Group LLC acquired a new stake in Discover Financial Services during the 2nd quarter worth approximately $209,000. Institutional investors own 85.80% of the company’s stock.

DFS has been the subject of a number of research analyst reports. Wells Fargo & Co increased their target price on shares of Discover Financial Services from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 1st. JPMorgan Chase & Co. raised shares of Discover Financial Services from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 2nd. Bank of America increased their target price on shares of Discover Financial Services from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Sandler O’Neill reissued a “buy” rating and set a $87.00 target price on shares of Discover Financial Services in a research report on Friday, July 27th. Finally, Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Wednesday, September 26th. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $86.76.

NYSE:DFS traded up $0.29 during trading hours on Wednesday, hitting $75.89. The stock had a trading volume of 74,088 shares, compared to its average volume of 2,079,637. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 2.54. Discover Financial Services has a 1-year low of $63.31 and a 1-year high of $81.93. The company has a market capitalization of $26.20 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.51.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.88 by $0.03. Discover Financial Services had a net margin of 19.07% and a return on equity of 24.25%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the company earned $1.40 earnings per share. Discover Financial Services’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that Discover Financial Services will post 7.81 earnings per share for the current year.

Discover Financial Services declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $71.79, for a total value of $2,153,700.00. Following the completion of the sale, the chief executive officer now owns 1,240,798 shares of the company’s stock, valued at $89,076,888.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 3,750 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $71.60, for a total transaction of $268,500.00. Following the completion of the sale, the executive vice president now directly owns 137,602 shares of the company’s stock, valued at approximately $9,852,303.20. The disclosure for this sale can be found here. Insiders sold 101,250 shares of company stock valued at $7,663,313 in the last ninety days. 0.81% of the stock is owned by corporate insiders.

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.

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

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