Dubuque Bank & Trust Co. increased its position in shares of Discover Financial Services (NYSE:DFS) by 56.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970 shares of the financial services provider’s stock after purchasing an additional 350 shares during the period. Dubuque Bank & Trust Co.’s holdings in Discover Financial Services were worth $69,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in DFS. JPMorgan Chase & Co. raised its holdings in Discover Financial Services by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 3,717,616 shares of the financial services provider’s stock worth $284,212,000 after purchasing an additional 39,555 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Discover Financial Services by 7.4% in the third quarter. Bank of New York Mellon Corp now owns 3,961,303 shares of the financial services provider’s stock valued at $302,841,000 after buying an additional 272,970 shares in the last quarter. Martingale Asset Management L P increased its holdings in shares of Discover Financial Services by 11.9% in the third quarter. Martingale Asset Management L P now owns 101,297 shares of the financial services provider’s stock valued at $7,745,000 after buying an additional 10,745 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Discover Financial Services by 11.4% in the third quarter. Blair William & Co. IL now owns 39,949 shares of the financial services provider’s stock valued at $3,054,000 after buying an additional 4,097 shares in the last quarter. Finally, Standard Life Aberdeen plc increased its holdings in shares of Discover Financial Services by 19.3% in the third quarter. Standard Life Aberdeen plc now owns 451,891 shares of the financial services provider’s stock valued at $34,549,000 after buying an additional 73,074 shares in the last quarter. 87.32% of the stock is currently owned by hedge funds and other institutional investors.
NYSE DFS traded up $3.66 on Friday, hitting $81.19. 3,168,065 shares of the stock were exchanged, compared to its average volume of 2,074,813. Discover Financial Services has a 52-week low of $54.36 and a 52-week high of $81.54. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $25.35 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.12 and a beta of 1.60.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 24th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, May 23rd. Discover Financial Services’s payout ratio is 20.54%.
In related news, CEO Roger C. Hochschild purchased 30,000 shares of the stock in a transaction dated Monday, January 28th. The shares were acquired at an average cost of $66.67 per share, for a total transaction of $2,000,100.00. Following the acquisition, the chief executive officer now directly owns 834,457 shares in the company, valued at approximately $55,633,248.19. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kathryn Mcnamara Corley sold 4,762 shares of the business’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $68.39, for a total transaction of $325,673.18. Following the transaction, the insider now owns 98,870 shares in the company, valued at $6,761,719.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,062 shares of company stock worth $8,124,691. Corporate insiders own 0.81% of the company’s stock.
Several research analysts have issued reports on DFS shares. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, March 27th. JMP Securities upped their price target on Discover Financial Services from $74.00 to $80.00 and gave the company a “market outperform” rating in a report on Thursday, April 4th. Bank of America set a $80.00 price target on Discover Financial Services and gave the company a “buy” rating in a report on Friday, January 25th. ValuEngine raised Discover Financial Services from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Oppenheimer set a $79.00 price target on Discover Financial Services and gave the company a “buy” rating in a report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $81.40.
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Discover Financial Services 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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