Ballentine Partners LLC Acquires 86 Shares of Discover Financial Services (NYSE:DFS)

Ballentine Partners LLC increased its holdings in Discover Financial Services (NYSE:DFS) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,888 shares of the financial services provider’s stock after acquiring an additional 86 shares during the quarter. Ballentine Partners LLC’s holdings in Discover Financial Services were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Gulf International Bank UK Ltd increased its stake in shares of Discover Financial Services by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 20,931 shares of the financial services provider’s stock worth $2,743,000 after acquiring an additional 131 shares in the last quarter. Eldred Rock Partners LLC grew its position in Discover Financial Services by 1.3% during the 1st quarter. Eldred Rock Partners LLC now owns 73,636 shares of the financial services provider’s stock valued at $9,653,000 after purchasing an additional 941 shares during the last quarter. Park Avenue Securities LLC grew its position in Discover Financial Services by 0.7% during the 1st quarter. Park Avenue Securities LLC now owns 40,070 shares of the financial services provider’s stock valued at $5,253,000 after purchasing an additional 280 shares during the last quarter. McLean Asset Management Corp purchased a new stake in Discover Financial Services during the 1st quarter valued at about $223,000. Finally, American National Bank grew its position in Discover Financial Services by 48.3% during the 1st quarter. American National Bank now owns 1,038 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 338 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Stock Performance

Shares of NYSE DFS opened at $127.67 on Tuesday. The firm has a 50 day moving average of $124.47 and a 200 day moving average of $118.22. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $31.99 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.78 and a beta of 1.41. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the prior year, the firm earned $3.58 EPS. On average, research analysts anticipate that Discover Financial Services will post 11.46 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Wall Street Analyst Weigh In

DFS has been the topic of several recent analyst reports. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. StockNews.com began coverage on shares of Discover Financial Services in a research report on Friday. They set a “hold” rating on the stock. BTIG Research assumed coverage on shares of Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating on the stock. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $126.29.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.