Amalgamated Bank Raises Stock Position in Discover Financial Services (NYSE:DFS)

Amalgamated Bank grew its holdings in Discover Financial Services (NYSE:DFS) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,428 shares of the financial services provider’s stock after purchasing an additional 1,909 shares during the quarter. Amalgamated Bank’s holdings in Discover Financial Services were worth $8,166,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DFS. TrinityPoint Wealth LLC acquired a new position in shares of Discover Financial Services in the fourth quarter worth $300,000. Dynamic Technology Lab Private Ltd purchased a new position in Discover Financial Services in the fourth quarter valued at $215,000. Gladstone Institutional Advisory LLC acquired a new position in Discover Financial Services during the 4th quarter worth $336,000. Coldstream Capital Management Inc. increased its holdings in Discover Financial Services by 9.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 5,521 shares of the financial services provider’s stock worth $621,000 after purchasing an additional 468 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Discover Financial Services by 8.4% during the fourth quarter. Wells Fargo & Company MN now owns 406,092 shares of the financial services provider’s stock worth $45,645,000 after buying an additional 31,354 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Up 5.7 %

Shares of NYSE:DFS opened at $143.92 on Friday. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The stock has a market cap of $36.09 billion, a P/E ratio of 16.41, a P/E/G ratio of 0.86 and a beta of 1.42. The firm has a fifty day moving average price of $134.56 and a 200 day moving average price of $128.42.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.54 earnings per share. Sell-side analysts predict that Discover Financial Services will post 12.87 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DFS shares. Royal Bank of Canada raised their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. BTIG Research assumed coverage on shares of Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Jefferies Financial Group boosted their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, BMO Capital Markets upped their price objective on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $132.94.

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.