Atom Investors LP acquired a new position in shares of Discover Financial Services (NYSE:DFS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 102,501 shares of the financial services provider’s stock, valued at approximately $5,134,000.
Several other institutional investors also recently bought and sold shares of DFS. Parallel Advisors LLC lifted its stake in shares of Discover Financial Services by 14.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,631 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 210 shares during the period. Callahan Advisors LLC lifted its stake in Discover Financial Services by 0.8% in the second quarter. Callahan Advisors LLC now owns 30,225 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 225 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Discover Financial Services by 16.0% during the 1st quarter. Acadian Asset Management LLC now owns 1,890 shares of the financial services provider’s stock worth $68,000 after buying an additional 261 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Discover Financial Services by 0.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 28,526 shares of the financial services provider’s stock worth $1,429,000 after buying an additional 266 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Discover Financial Services by 5.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,876 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 267 shares in the last quarter. 83.95% of the stock is currently owned by institutional investors.
Shares of NYSE DFS traded up $1.70 during midday trading on Friday, reaching $57.12. The company’s stock had a trading volume of 5,363,263 shares, compared to its average volume of 2,739,687. The stock has a market capitalization of $17.50 billion, a P/E ratio of 18.08 and a beta of 1.88. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day moving average price of $51.55 and a 200-day moving average price of $48.56. Discover Financial Services has a 12-month low of $23.25 and a 12-month high of $87.43.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported ($1.20) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($1.25). The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.63 billion. Discover Financial Services had a return on equity of 10.45% and a net margin of 7.65%. On average, equities analysts predict that Discover Financial Services will post 1.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Wednesday, August 19th. Discover Financial Services’s payout ratio is 19.38%.
DFS has been the subject of a number of research reports. Wolfe Research started coverage on shares of Discover Financial Services in a report on Friday, July 31st. They issued an “outperform” rating for the company. JMP Securities boosted their target price on Discover Financial Services from $48.00 to $58.00 and gave the company a “market outperform” rating in a research report on Friday, July 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the stock from $36.00 to $72.00 in a report on Monday, June 22nd. BMO Capital Markets raised their price objective on Discover Financial Services from $70.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Finally, Piper Sandler upped their target price on Discover Financial Services from $49.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $62.50.
In related news, Director Mary K. Bush sold 1,920 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $49.23, for a total transaction of $94,521.60. Following the completion of the transaction, the director now owns 55,899 shares in the company, valued at $2,751,907.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.55% of the stock is currently owned by insiders.
About Discover Financial Services
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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