Discover Financial Services (DFS) Stake Boosted by Wedbush Securities Inc.

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Wedbush Securities Inc. grew its stake in shares of Discover Financial Services (NYSE:DFS) by 19.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,141 shares of the financial services provider’s stock after acquiring an additional 1,171 shares during the quarter. Wedbush Securities Inc.’s holdings in Discover Financial Services were worth $546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Adirondack Trust Co. increased its holdings in shares of Discover Financial Services by 204.5% during the third quarter. Adirondack Trust Co. now owns 1,340 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 900 shares in the last quarter. Sandy Spring Bank increased its holdings in shares of Discover Financial Services by 181.5% during the second quarter. Sandy Spring Bank now owns 1,689 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 1,089 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Discover Financial Services by 8,341.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,026 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 2,002 shares in the last quarter. Honkamp Krueger Financial Services Inc. acquired a new position in shares of Discover Financial Services during the third quarter valued at about $155,000. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Discover Financial Services by 440.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 6,670 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 5,435 shares in the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.

Shares of NYSE DFS opened at $64.84 on Friday. The company has a market capitalization of $22.34 billion, a P/E ratio of 10.84, a PEG ratio of 0.68 and a beta of 1.51. Discover Financial Services has a 52 week low of $64.11 and a 52 week high of $81.93. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.48 and a current ratio of 1.48.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, October 25th. The financial services provider reported $2.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $2.05. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.69 billion. Discover Financial Services had a return on equity of 25.49% and a net margin of 19.51%. Sell-side analysts predict that Discover Financial Services will post 7.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 6th. Investors of record on Wednesday, November 21st were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. Discover Financial Services’s dividend payout ratio is currently 26.76%.

In other Discover Financial Services news, Chairman David W. Nelms sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $77.16, for a total value of $2,314,800.00. Following the sale, the chairman now owns 1,180,798 shares in the company, valued at approximately $91,110,373.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Carlos Minetti sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $77.26, for a total value of $289,725.00. Following the completion of the sale, the executive vice president now owns 130,102 shares in the company, valued at approximately $10,051,680.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,100 shares of company stock worth $7,590,463. 0.81% of the stock is owned by insiders.

DFS has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Wednesday, September 26th. Bank of America upped their price objective on shares of Discover Financial Services from $86.00 to $92.00 and gave the company a “buy” rating in a report on Friday, September 21st. ValuEngine upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Finally, Wells Fargo & Co upped their price objective on shares of Discover Financial Services from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Monday, October 1st. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Discover Financial Services has an average rating of “Buy” and an average target price of $86.40.

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Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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