Citizens Financial Group Inc. RI Purchases 2,308 Shares of Discover Financial Services (NYSE:DFS)

Citizens Financial Group Inc. RI lifted its position in Discover Financial Services (NYSE:DFS) by 146.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,889 shares of the financial services provider’s stock after purchasing an additional 2,308 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Discover Financial Services were worth $509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DFS. Opal Wealth Advisors LLC bought a new position in Discover Financial Services in the 2nd quarter worth about $26,000. Y.D. More Investments Ltd grew its holdings in shares of Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position 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 purchasing an additional 95 shares during the last quarter. Larson Financial Group LLC raised its stake in 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 valued at $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in Discover Financial Services in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

DFS has been the topic of several research reports. BMO Capital Markets raised their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Barclays lifted their price target on 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. BTIG Research assumed coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Royal Bank of Canada boosted their target price on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group increased their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $132.94.

Discover Financial Services Stock Down 1.1 %

NYSE DFS opened at $136.11 on Thursday. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The stock has a market capitalization of $34.13 billion, a PE ratio of 15.52, a PEG ratio of 0.86 and a beta of 1.42. 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 business’s 50-day moving average is $134.31 and its 200 day moving average is $128.31.

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

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.06%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

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; 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.