Park Place Capital Corp Cuts Stock Position in Discover Financial Services (NYSE:DFS)

Park Place Capital Corp decreased its holdings in Discover Financial Services (NYSE:DFS) by 19.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,550 shares of the financial services provider’s stock after selling 386 shares during the period. Park Place Capital Corp’s holdings in Discover Financial Services were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DFS. Opal Wealth Advisors LLC purchased a new stake in Discover Financial Services during the 2nd quarter valued at approximately $26,000. Y.D. More Investments Ltd increased its holdings in shares of Discover Financial Services by 147.8% in 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 last quarter. Whittier Trust Co. of Nevada Inc. lifted 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 buying an additional 95 shares in the last quarter. Larson Financial Group LLC boosted its stake in Discover Financial Services by 348.2% during 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 last quarter. Finally, Riverview Trust Co bought a new stake 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

A number of research firms recently weighed in on DFS. BMO Capital Markets raised 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 report on Friday, July 19th. Keefe, Bruyette & Woods increased their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. StockNews.com initiated coverage on Discover Financial Services in a research report on Thursday, October 3rd. They set a “hold” rating on the stock. Jefferies Financial Group lifted their target price on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research note 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $133.88.

Discover Financial Services Trading Down 1.4 %

Shares of NYSE:DFS opened at $142.07 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $35.63 billion, a PE ratio of 16.20, a P/E/G ratio of 0.94 and a beta of 1.41. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61. The business’s fifty day simple moving average is $134.35 and its 200-day simple moving average is $129.93.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results 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 business had revenue of $4.54 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.54 earnings per share. As a group, equities research analysts predict that Discover Financial Services will post 12.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.97%. Discover Financial Services’s dividend payout ratio 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.