Janney Montgomery Scott LLC Acquires Shares of 17,215 Discover Financial Services (NYSE:DFS)

Janney Montgomery Scott LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,215 shares of the financial services provider’s stock, valued at approximately $2,415,000.

Several other institutional investors also recently bought and sold shares of the company. Cooke & Bieler LP raised its stake in Discover Financial Services by 5.1% in the second quarter. Cooke & Bieler LP now owns 1,281,950 shares of the financial services provider’s stock valued at $167,692,000 after buying an additional 62,595 shares during the last quarter. Hsbc Holdings PLC boosted its position in Discover Financial Services by 6.7% during the second quarter. Hsbc Holdings PLC now owns 1,181,333 shares of the financial services provider’s stock worth $154,064,000 after acquiring an additional 73,902 shares during the last quarter. AustralianSuper Pty Ltd grew its holdings in Discover Financial Services by 0.5% in the 2nd quarter. AustralianSuper Pty Ltd now owns 1,162,495 shares of the financial services provider’s stock valued at $152,066,000 after buying an additional 6,042 shares in the last quarter. Elser Financial Planning Inc acquired a new stake in Discover Financial Services during the second quarter worth about $91,044,000. Finally, Samlyn Capital LLC grew its holdings in shares of Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after purchasing an additional 508,504 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 2.1 %

NYSE:DFS opened at $177.67 on Wednesday. The company has a market capitalization of $44.61 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.41. The stock has a 50-day simple moving average of $144.54 and a 200 day simple moving average of $134.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. Discover Financial Services has a one year low of $82.68 and a one year high of $188.26.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter last year, the company earned $2.59 EPS. Sell-side analysts predict that Discover Financial Services will post 13.22 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.58%. Discover Financial Services’s dividend payout ratio is currently 22.60%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DFS shares. BMO Capital Markets increased their target price on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Royal Bank of Canada boosted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Barclays upped their price objective on shares of Discover Financial Services from $135.00 to $137.00 and gave the company 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 seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus target price of $138.81.

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; 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.