King Luther Capital Management Corp Sells 1,103 Shares of Discover Financial Services (NYSE:DFS)

King Luther Capital Management Corp cut its stake in Discover Financial Services (NYSE:DFS) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,076 shares of the financial services provider’s stock after selling 1,103 shares during the quarter. King Luther Capital Management Corp’s holdings in Discover Financial Services were worth $4,981,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in DFS. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services during the 2nd quarter valued at about $26,000. Y.D. More Investments Ltd grew its stake in 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 valued at $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased 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 acquiring an additional 95 shares during the period. Larson Financial Group LLC lifted its stake in Discover Financial Services by 348.2% in the 2nd 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 in the last quarter. Finally, Riverview Trust Co bought a new position in Discover Financial Services in the 1st quarter valued at $34,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 1.0 %

Shares of NYSE DFS opened at $142.49 on Friday. The company has a market cap of $35.73 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.86 and a beta of 1.42. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average is $134.78 and its 200 day moving average is $128.58. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating the consensus estimate of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.54 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 12.87 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s payout ratio is 31.93%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DFS shares. JPMorgan Chase & Co. upped their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. BMO Capital Markets upped their target price 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. BTIG Research initiated coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating for the company. Jefferies Financial Group increased their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Barclays lifted 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 report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.94.

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.