Dana Investment Advisors Inc. Sells 1,507 Shares of Discover Financial Services (NYSE:DFS)

Dana Investment Advisors Inc. cut its stake in shares of Discover Financial Services (NYSE:DFS) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,731 shares of the financial services provider’s stock after selling 1,507 shares during the period. Dana Investment Advisors Inc.’s holdings in Discover Financial Services were worth $7,290,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DFS. Opal Wealth Advisors LLC acquired a new stake in Discover Financial Services in the 2nd quarter worth about $26,000. Y.D. More Investments Ltd increased 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 during the period. Whittier Trust Co. of Nevada Inc. raised 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 valued at $30,000 after buying an additional 95 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of 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 buying an additional 195 shares during the period. Finally, Riverview Trust Co acquired a new stake in Discover Financial Services during the first quarter worth approximately $34,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Down 2.8 %

Shares of NYSE DFS opened at $136.42 on Wednesday. The company has a 50 day simple moving average of $134.43 and a 200 day simple moving average of $129.45. 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 has a 1 year low of $79.04 and a 1 year high of $147.61. The firm has a market cap of $34.21 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the business earned $3.54 earnings per share. Discover Financial Services’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts forecast that Discover Financial Services will post 12.88 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.70 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.05%. Discover Financial Services’s payout ratio is 31.93%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DFS. Barclays upped their target price on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective 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. Royal Bank of Canada boosted 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 research report on Friday, July 19th. 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 research report on Tuesday, July 9th. Finally, BTIG Research initiated coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating for the company. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.