Benjamin Edwards Inc. Boosts Holdings in Discover Financial Services (NYSE:DFS)

Benjamin Edwards Inc. raised its stake in shares of Discover Financial Services (NYSE:DFS) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,813 shares of the financial services provider’s stock after purchasing an additional 105 shares during the period. Benjamin Edwards Inc.’s holdings in Discover Financial Services were worth $237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services during the second quarter valued at $26,000. Y.D. More Investments Ltd lifted its stake in shares of Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after buying an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after buying an additional 95 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after buying an additional 195 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Discover Financial Services in the first quarter worth about $34,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

Shares of DFS opened at $142.49 on Friday. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The stock has a market cap of $35.73 billion, a PE ratio of 16.25, a P/E/G ratio of 0.86 and a beta of 1.42. The firm has a 50-day simple moving average of $134.78 and a two-hundred day simple moving average of $128.63. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations 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 previous year, the business posted $3.54 earnings per share. As a group, analysts forecast that Discover Financial Services will post 12.87 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised their price target 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. StockNews.com assumed coverage on shares of Discover Financial Services in a research note on Tuesday, September 17th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. BMO Capital Markets raised their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, Barclays lifted their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.