Haverford Trust Co Reduces Holdings in Discover Financial Services (NYSE:DFS)

Haverford Trust Co lessened its holdings in Discover Financial Services (NYSE:DFS) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 2,845 shares of the financial services provider’s stock after selling 65 shares during the quarter. Haverford Trust Co’s holdings in Discover Financial Services were worth $493,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Discover Financial Services during the 4th quarter worth about $351,766,000. FMR LLC boosted its stake in shares of Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after purchasing an additional 558,227 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Discover Financial Services by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock worth $5,377,961,000 after buying an additional 290,937 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $39,067,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $38,489,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of NYSE:DFS opened at $169.86 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76. The business’s 50-day simple moving average is $185.84 and its 200 day simple moving average is $169.65. The company has a market cap of $42.74 billion, a P/E ratio of 10.64, a PEG ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, sell-side analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

Analyst Ratings Changes

DFS has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Barclays boosted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $192.40.

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; 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.