Robertson Stephens Wealth Management LLC Sells 121 Shares of Discover Financial Services (NYSE:DFS)

Robertson Stephens Wealth Management LLC reduced its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,650 shares of the financial services provider’s stock after selling 121 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Discover Financial Services were worth $3,404,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. UMB Bank n.a. grew its holdings in shares of Discover Financial Services by 0.6% in the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after purchasing an additional 56 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Discover Financial Services by 0.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 57 shares during the last quarter. Invst LLC grew its holdings in shares of Discover Financial Services by 0.9% in the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 62 shares during the last quarter. CTC Alternative Strategies Ltd. grew its holdings in shares of Discover Financial Services by 3.2% in the third quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 63 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC grew its holdings in shares of Discover Financial Services by 0.5% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock worth $2,034,000 after purchasing an additional 67 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Price Performance

DFS opened at $202.91 on Friday. The stock has a 50-day moving average price of $182.48 and a 200-day moving average price of $158.22. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market cap of $50.99 billion, a PE ratio of 12.71, a P/E/G ratio of 0.64 and a beta of 1.46. Discover Financial Services has a 1 year low of $104.08 and a 1 year high of $205.76.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that Discover Financial Services will post 13.39 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 $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Analysts Set New Price Targets

DFS has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. JPMorgan Chase & Co. raised their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Wells Fargo & Company raised their price target on 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 raised their price target on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $182.64.

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; 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.