2,037 Shares in Discover Financial Services (NYSE:DFS) Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC bought a new stake in Discover Financial Services (NYSE:DFS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,037 shares of the financial services provider’s stock, valued at approximately $266,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. J.Safra Asset Management Corp lifted its stake in shares of Discover Financial Services by 24.4% in the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 76 shares during the period. UMB Bank n.a. boosted its stake in shares of Discover Financial Services by 0.9% during the 2nd quarter. UMB Bank n.a. now owns 9,139 shares of the financial services provider’s stock worth $1,195,000 after acquiring an additional 84 shares in the last quarter. Ballentine Partners LLC boosted its stake in shares of Discover Financial Services by 3.1% during the 1st quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 86 shares in the last quarter. Optas LLC grew its holdings in shares of Discover Financial Services by 4.3% in the 2nd quarter. Optas LLC now owns 2,147 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 89 shares during the period. Finally, Conning Inc. increased its stake in Discover Financial Services by 4.1% in the 2nd quarter. Conning Inc. now owns 2,371 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DFS shares. BTIG Research started coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Jefferies Financial Group boosted their price objective 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. 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. BMO Capital Markets upped their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Finally, Barclays raised their price objective 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 issued a buy rating to the company. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $132.94.

Discover Financial Services Stock Performance

NYSE DFS opened at $137.63 on Wednesday. The business’s 50-day moving average price is $134.17 and its 200 day moving average price is $128.26. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The company has a market capitalization of $34.51 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42.

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, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the firm posted $3.54 EPS. The company’s revenue was up 17.0% on a year-over-year basis. On average, research analysts predict that Discover Financial Services will post 12.87 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.03%. Discover Financial Services’s payout ratio is 31.93%.

Discover Financial Services 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.