OLD National Bancorp IN Has $1.21 Million Stake in Discover Financial Services (NYSE:DFS)

OLD National Bancorp IN grew its stake in Discover Financial Services (NYSE:DFS) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,792 shares of the financial services provider’s stock after purchasing an additional 304 shares during the period. OLD National Bancorp IN’s holdings in Discover Financial Services were worth $1,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Boston Partners grew its stake in shares of Discover Financial Services by 56.5% in the 3rd quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock valued at $743,663,000 after purchasing an additional 3,102,119 shares during the period. FMR LLC raised its stake in Discover Financial Services by 4.4% during the third quarter. FMR LLC now owns 5,686,848 shares of the financial services provider’s stock worth $492,652,000 after acquiring an additional 238,498 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Discover Financial Services by 0.8% during the third quarter. Northern Trust Corp now owns 2,578,053 shares of the financial services provider’s stock valued at $223,337,000 after acquiring an additional 20,333 shares during the period. Invesco Ltd. grew its holdings in shares of Discover Financial Services by 30.9% in the 3rd quarter. Invesco Ltd. now owns 2,233,324 shares of the financial services provider’s stock worth $193,473,000 after purchasing an additional 526,951 shares during the last quarter. Finally, Eminence Capital LP increased its position in shares of Discover Financial Services by 42.3% during the 3rd quarter. Eminence Capital LP now owns 1,343,975 shares of the financial services provider’s stock worth $116,429,000 after purchasing an additional 399,209 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

DFS opened at $129.30 on Wednesday. The company has a fifty day moving average price of $122.76 and a two-hundred day moving average price of $106.72. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.05. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $131.65. The firm has a market capitalization of $32.40 billion, a PE ratio of 14.74, a P/E/G ratio of 0.77 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the firm earned $3.58 EPS. As a group, analysts anticipate that Discover Financial Services will post 11.3 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.17%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DFS. Barclays boosted their price target on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. HSBC boosted their target price on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Jefferies Financial Group boosted their target price on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Wells Fargo & Company boosted their target price on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $126.29.

Insider Activity at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the sale, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

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.