Diversify Advisory Services LLC Acquires 92 Shares of Discover Financial Services (NYSE:DFS)

Diversify Advisory Services LLC lifted its position in Discover Financial Services (NYSE:DFS) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 3,558 shares of the financial services provider’s stock after purchasing an additional 92 shares during the quarter. Diversify Advisory Services LLC’s holdings in Discover Financial Services were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. abrdn plc increased its stake in shares of Discover Financial Services by 12.6% in the third quarter. abrdn plc now owns 102,552 shares of the financial services provider’s stock worth $14,357,000 after purchasing an additional 11,511 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Discover Financial Services by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 29,224 shares of the financial services provider’s stock worth $4,099,000 after purchasing an additional 1,975 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Discover Financial Services by 4.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 61,765 shares of the financial services provider’s stock worth $8,539,000 after purchasing an additional 2,403 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Discover Financial Services by 2.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 59,479 shares of the financial services provider’s stock worth $8,344,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Forsta AP Fonden increased its stake in shares of Discover Financial Services by 10.1% in the third quarter. Forsta AP Fonden now owns 65,400 shares of the financial services provider’s stock worth $9,175,000 after purchasing an additional 6,000 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Barclays raised their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. 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 research note on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted 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. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $136.53.

Discover Financial Services Trading Up 2.5 %

Shares of DFS opened at $154.44 on Thursday. Discover Financial Services has a 1-year low of $81.09 and a 1-year high of $157.06. The company has a 50-day moving average of $139.87 and a 200 day moving average of $132.39. The firm has a market capitalization of $38.78 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 0.94 and a beta of 1.41. 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 quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business posted $2.59 EPS. On average, research analysts expect that Discover Financial Services will post 13.15 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a yield of 1.81%. Discover Financial Services’s payout ratio is 22.60%.

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.