Riverview Trust Co Makes New Investment in Discover Financial Services (NYSE:DFS)

Riverview Trust Co bought a new position in Discover Financial Services (NYSE:DFS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 257 shares of the financial services provider’s stock, valued at approximately $34,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Partnership Wealth Management LLC purchased a new stake in Discover Financial Services in the fourth quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Discover Financial Services in the fourth quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC bought a new stake in Discover Financial Services in the fourth quarter valued at approximately $31,000. Turtle Creek Wealth Advisors LLC bought a new stake in Discover Financial Services in the fourth quarter valued at approximately $35,000. Finally, Anchor Investment Management LLC bought a new stake in Discover Financial Services in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE DFS opened at $126.42 on Wednesday. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65. The stock has a 50-day moving average of $124.60 and a 200 day moving average of $118.38. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $31.70 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.77 and a beta of 1.41.

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

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.21%. Discover Financial Services’s payout ratio is 31.93%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DFS. Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Jefferies Financial Group boosted their price objective on Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. BTIG Research initiated coverage on Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating for the company. HSBC increased their price objective on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company increased their price objective on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $126.29.

About Discover Financial Services

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.