Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,198 shares of the financial services provider’s stock after acquiring an additional 870 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Discover Financial Services were worth $1,366,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Financial Gravity Companies Inc. acquired a new stake in Discover Financial Services in the fourth quarter valued at $29,000. Massey Quick Simon & CO. LLC acquired a new stake in Discover Financial Services in the fourth quarter valued at $30,000. Pinnacle Bank acquired a new stake in Discover Financial Services in the fourth quarter valued at $32,000. Essex Savings Bank grew its holdings in Discover Financial Services by 66.7% in the first quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares during the last quarter. Finally, Berman Capital Advisors LLC acquired a new stake in Discover Financial Services in the fourth quarter valued at $37,000. 87.79% of the stock is currently owned by institutional investors.
In related news, CFO R. Mark Graf sold 30,741 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $81.92, for a total transaction of $2,518,302.72. Following the transaction, the chief financial officer now directly owns 56,072 shares in the company, valued at $4,593,418.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cynthia A. Glassman sold 5,551 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $81.73, for a total value of $453,683.23. Following the transaction, the director now owns 44,481 shares in the company, valued at $3,635,432.13. The disclosure for this sale can be found here. Insiders have sold 85,169 shares of company stock worth $6,615,921 over the last quarter. 0.81% of the stock is currently owned by company insiders.
A number of research firms recently commented on DFS. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, March 27th. JMP Securities increased their price objective on Discover Financial Services from $74.00 to $80.00 and gave the company a “market outperform” rating in a research note on Thursday, April 4th. Bank of America set a $80.00 price objective 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 price objective on Discover Financial Services and gave the company a “buy” rating in a research note on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $81.69.
DFS opened at $77.29 on Monday. 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 firm has a market cap of $25.02 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.18 and a beta of 1.64. Discover Financial Services has a 52 week low of $54.36 and a 52 week high of $82.51.
Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 25th. The financial services provider reported $2.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.13. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business posted $1.82 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities analysts predict that Discover Financial Services will post 8.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.60 annualized dividend and a yield of 2.07%. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.54%.
Discover Financial Services 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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