Kendall Capital Management Has $963,000 Stake in Discover Financial Services (NYSE:DFS)

Kendall Capital Management trimmed its stake in Discover Financial Services (NYSE:DFS) by 33.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,365 shares of the financial services provider’s stock after selling 3,700 shares during the period. Kendall Capital Management’s holdings in Discover Financial Services were worth $963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the 2nd quarter valued at about $26,000. Y.D. More Investments Ltd boosted its position in shares of Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 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 valued at $30,000 after acquiring an additional 95 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Discover Financial Services during the 1st quarter valued at about $34,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Trading Down 1.1 %

Shares of NYSE DFS opened at $136.11 on Thursday. The company’s 50 day simple moving average is $134.31 and its 200 day simple moving average is $128.31. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61. The firm has a market capitalization of $34.13 billion, a P/E ratio of 15.52, a P/E/G 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.

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 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 business posted $3.54 earnings per share. Discover Financial Services’s revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Discover Financial Services will post 12.87 EPS for the current year.

Discover Financial Services Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DFS. BMO Capital Markets lifted their target price 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. Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. BTIG Research began coverage on shares of Discover Financial Services in a report on Friday, June 7th. They set a “neutral” rating for the company. Royal Bank of Canada lifted their price target 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. Finally, JPMorgan Chase & Co. boosted their target price 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. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $132.94.

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.