Fulton Bank N.A. Purchases 3,344 Shares of Discover Financial Services (NYSE:DFS)

Fulton Bank N.A. lifted its position in shares of Discover Financial Services (NYSE:DFS) by 109.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,396 shares of the financial services provider’s stock after purchasing an additional 3,344 shares during the quarter. Fulton Bank N.A.’s holdings in Discover Financial Services were worth $897,000 at the end of the most recent reporting period.

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

Discover Financial Services Trading Down 1.4 %

DFS stock opened at $142.07 on Wednesday. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61. The stock has a market cap of $35.63 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a fifty day moving average price of $134.35 and a two-hundred day moving average price of $129.93. 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 earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping the consensus estimate of $3.06 by $3.00. The business 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%. Discover Financial Services’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.54 EPS. Equities analysts anticipate that Discover Financial Services will post 12.88 EPS for the current year.

Discover Financial Services Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DFS shares. Barclays increased 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 research report on Friday, July 19th. Royal Bank of Canada lifted their price target on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. StockNews.com initiated coverage on Discover Financial Services in a report on Thursday, October 3rd. They issued a “hold” rating on the stock. BMO Capital Markets increased their price objective on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Finally, Jefferies Financial Group boosted their target price on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $133.88.

Discover Financial Services Company 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.