Breton Hill Capital Ltd. raised its position in Discover Financial Services (NYSE:DFS) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,269 shares of the financial services provider’s stock after buying an additional 81 shares during the period. Breton Hill Capital Ltd.’s holdings in Discover Financial Services were worth $1,261,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of DFS. Jaffetilchin Investment Partners LLC raised its stake in Discover Financial Services by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock worth $221,000 after buying an additional 24 shares during the last quarter. Court Place Advisors LLC raised its stake in Discover Financial Services by 0.7% in the first quarter. Court Place Advisors LLC now owns 5,831 shares of the financial services provider’s stock worth $399,000 after buying an additional 39 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Discover Financial Services by 1.1% in the first quarter. Quadrant Capital Group LLC now owns 4,296 shares of the financial services provider’s stock worth $287,000 after buying an additional 46 shares during the last quarter. Perigon Wealth Management LLC raised its stake in Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after buying an additional 48 shares during the last quarter. Finally, Park National Corp OH raised its stake in Discover Financial Services by 0.9% in the first quarter. Park National Corp OH now owns 7,934 shares of the financial services provider’s stock worth $543,000 after buying an additional 70 shares during the last quarter. 84.13% of the stock is owned by institutional investors and hedge funds.
Discover Financial Services (DFS) opened at 63.13 on Thursday. The stock has a market capitalization of $24.00 billion, a P/E ratio of 10.78 and a beta of 1.47. The stock has a 50 day moving average price of $61.22 and a 200 day moving average price of $65.30. Discover Financial Services has a 12 month low of $53.91 and a 12 month high of $74.33.
Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by $0.05. Discover Financial Services had a net margin of 22.08% and a return on equity of 21.86%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm earned $1.47 earnings per share. Discover Financial Services’s revenue was up 9.2% on a year-over-year basis. Equities analysts predict that Discover Financial Services will post $5.98 EPS for the current fiscal year.
Discover Financial Services announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $2.23 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 2.22%. Discover Financial Services’s payout ratio is 20.48%.
A number of analysts have commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $82.00 target price on shares of Discover Financial Services in a report on Friday, April 7th. Oppenheimer Holdings, Inc. set a $69.00 target price on Discover Financial Services and gave the stock a “buy” rating in a report on Wednesday. CIBC reduced their target price on Discover Financial Services from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Barclays PLC reissued an “equal weight” rating and issued a $70.00 target price (down previously from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. Finally, Wells Fargo & Company lowered Discover Financial Services to a “buy” rating and set a $70.00 target price for the company. in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $75.22.
In related news, EVP Julie A. Loeger sold 5,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $62.54, for a total value of $312,700.00. Following the completion of the sale, the executive vice president now directly owns 28,345 shares of the company’s stock, valued at $1,772,696.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $62.42, for a total transaction of $499,360.00. Following the completion of the sale, the executive vice president now directly owns 205,149 shares of the company’s stock, valued at $12,805,400.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,516 shares of company stock valued at $6,456,648. 0.96% of the stock is owned by corporate insiders.
Discover Financial Services Company Profile
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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