Pinnacle Bancorp Inc. Sells 340 Shares of Discover Financial Services (NYSE:DFS)

Pinnacle Bancorp Inc. lessened its stake in Discover Financial Services (NYSE:DFS) by 61.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 213 shares of the financial services provider’s stock after selling 340 shares during the period. Pinnacle Bancorp Inc.’s holdings in Discover Financial Services were worth $28,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp grew its position in Discover Financial Services by 10.9% in the 1st quarter. Atlantic Union Bankshares Corp now owns 16,653 shares of the financial services provider’s stock worth $2,183,000 after purchasing an additional 1,641 shares during the period. Signet Financial Management LLC grew its position in shares of Discover Financial Services by 11.2% during the 1st quarter. Signet Financial Management LLC now owns 32,558 shares of the financial services provider’s stock valued at $4,268,000 after acquiring an additional 3,291 shares during the period. Aspiriant LLC bought a new stake in shares of Discover Financial Services during the 1st quarter valued at $214,000. West Paces Advisors Inc. grew its position in shares of Discover Financial Services by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 166 shares during the period. Finally, Riverview Trust Co bought a new stake in shares of Discover Financial Services during the 1st quarter valued at $34,000. Institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Saturday. They set a “hold” rating for the company. Barclays lifted their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. HSBC lifted their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Seaport Res Ptn cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, BTIG Research assumed coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average target price of $126.29.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $130.81 on Friday. The company’s 50-day moving average price is $124.81 and its 200-day moving average price is $118.66. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $131.65. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The company has a market cap of $32.80 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 0.75 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter last year, the firm earned $3.58 earnings per share. On average, equities research analysts forecast that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.14%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Discover Financial Services 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.