Discover Financial Services (NYSE:DFS) Shares Acquired by Sendero Wealth Management LLC

Sendero Wealth Management LLC raised its position in Discover Financial Services (NYSE:DFS) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,286 shares of the financial services provider’s stock after buying an additional 147 shares during the period. Sendero Wealth Management LLC’s holdings in Discover Financial Services were worth $321,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DFS. Opal Wealth Advisors LLC acquired a new position in shares of Discover Financial Services in the 2nd quarter valued at approximately $26,000. Y.D. More Investments Ltd increased its holdings in 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 valued at $29,000 after buying an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Discover Financial Services by 72.5% during the 2nd 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 during the last quarter. Larson Financial Group LLC raised its holdings in shares of Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares during the period. Finally, Riverview Trust Co acquired a new stake in Discover Financial Services during the first quarter worth about $34,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on DFS. Jefferies Financial Group upped 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 report 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 report on Friday, July 19th. Keefe, Bruyette & Woods increased their price target on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. BMO Capital Markets boosted their price objective on 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, Evercore ISI lifted their target price on Discover Financial Services from $140.00 to $156.00 and gave the stock an “in-line” rating in a report on Monday. 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 company currently has an average rating of “Hold” and an average target price of $133.88.

Discover Financial Services Stock Down 0.2 %

NYSE:DFS traded down $0.34 during mid-day trading on Thursday, reaching $142.81. The stock had a trading volume of 336,616 shares, compared to its average volume of 1,639,723. The stock has a market cap of $35.81 billion, a P/E ratio of 16.32, a PEG ratio of 0.94 and a beta of 1.41. The business’s 50 day moving average is $134.28 and its 200 day moving average is $130.13. 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 has a fifty-two week low of $79.04 and a fifty-two week high of $147.61.

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

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.96%. Discover Financial Services’s payout ratio is presently 31.93%.

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.