Discover Financial Services (NYSE:DFS) Short Interest Up 5.5% in June

Discover Financial Services (NYSE:DFS) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 2,310,000 shares, a growth of 5.5% from the May 31st total of 2,190,000 shares. Based on an average daily volume of 1,240,000 shares, the short-interest ratio is currently 1.9 days. Currently, 0.9% of the company’s stock are sold short.

Discover Financial Services Stock Down 1.1 %

Shares of NYSE DFS opened at $132.06 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $33.12 billion, a PE ratio of 15.06, a P/E/G ratio of 0.81 and a beta of 1.44. Discover Financial Services has a one year low of $79.04 and a one year high of $133.78. The business’s fifty day moving average price is $125.02 and its 200-day moving average price is $119.23.

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

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Barclays upped their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. increased their target price on shares of Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. HSBC boosted their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group lifted their target price on shares of Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $126.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DFS. DAVENPORT & Co LLC boosted its holdings in shares of Discover Financial Services by 335.4% in the fourth quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after acquiring an additional 49,145 shares during the period. D.A. Davidson & CO. boosted its stake in Discover Financial Services by 238.7% in the 4th quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock worth $1,662,000 after purchasing an additional 10,418 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Discover Financial Services by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock valued at $103,000,000 after buying an additional 16,532 shares in the last quarter. Principal Securities Inc. bought a new stake in shares of Discover Financial Services during the fourth quarter valued at about $1,073,000. Finally, Vest Financial LLC lifted its holdings in shares of Discover Financial Services by 18.8% in the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after buying an additional 19,283 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

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.