Toronto Dominion Bank increased its stake in shares of Discover Financial Services (NYSE:DFS) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,869 shares of the financial services provider’s stock after purchasing an additional 26,391 shares during the period. Toronto Dominion Bank’s holdings in Discover Financial Services were worth $15,926,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in DFS. Norges Bank acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $162,561,000. Oregon Public Employees Retirement Fund grew its stake in shares of Discover Financial Services by 5,727.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,230,742 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 2,192,460 shares during the period. Principal Financial Group Inc. grew its stake in shares of Discover Financial Services by 15.4% during the fourth quarter. Principal Financial Group Inc. now owns 3,765,063 shares of the financial services provider’s stock worth $222,063,000 after purchasing an additional 502,539 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $28,197,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $23,743,000. 87.79% of the stock is owned by institutional investors and hedge funds.
NYSE:DFS traded down $0.29 on Friday, reaching $77.83. The company’s stock had a trading volume of 422,591 shares, compared to its average volume of 1,947,831. Discover Financial Services has a 1-year low of $54.36 and a 1-year high of $82.51. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.46. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.18 and a beta of 1.64.
Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, April 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.13. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. The company’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 earnings per share. Sell-side analysts forecast that Discover Financial Services will post 8.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 24th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. Discover Financial Services’s dividend payout ratio is currently 20.54%.
DFS has been the subject of a number of analyst reports. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, March 27th. JMP Securities lifted their price objective on Discover Financial Services from $74.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 4th. Bank of America set a $80.00 target price on Discover Financial Services and gave the company a “buy” rating in a research note on Friday, January 25th. ValuEngine raised Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, Oppenheimer set a $79.00 target price on Discover Financial Services and gave the company a “buy” rating in a research note on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Discover Financial Services has an average rating of “Buy” and a consensus price target of $81.81.
In other news, Director Mary K. Bush sold 496 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $77.53, for a total transaction of $38,454.88. Following the completion of the transaction, the director now directly owns 53,564 shares of the company’s stock, valued at $4,152,816.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Edward W. Mcgrogan sold 2,450 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $81.60, for a total value of $199,920.00. Following the transaction, the senior vice president now directly owns 13,166 shares of the company’s stock, valued at $1,074,345.60. The disclosure for this sale can be found here. Insiders have sold 85,169 shares of company stock valued at $6,615,921 over the last ninety days. 0.81% of the stock is owned by insiders.
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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