Jacobi Capital Management LLC Cuts Position in Discover Financial Services (NYSE:DFS)

Jacobi Capital Management LLC lowered its holdings in shares of Discover Financial Services (NYSE:DFS) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,956 shares of the financial services provider’s stock after selling 167 shares during the quarter. Jacobi Capital Management LLC’s holdings in Discover Financial Services were worth $781,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Ballentine Partners LLC lifted its position in shares of Discover Financial Services by 3.1% during the 1st quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock valued at $379,000 after buying an additional 86 shares in the last quarter. Team Hewins LLC grew its position in shares of Discover Financial Services by 5.5% in the first quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 98 shares during the period. Wealthspire Advisors LLC increased its stake in shares of Discover Financial Services by 3.3% during the fourth quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 99 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its stake in shares of Discover Financial Services by 0.8% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 14,382 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 108 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its stake in Discover Financial Services by 1.7% in the 4th quarter. Simon Quick Advisors LLC now owns 6,397 shares of the financial services provider’s stock valued at $719,000 after buying an additional 109 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Trading Down 1.4 %

DFS stock traded down $2.01 during mid-day trading on Monday, hitting $139.76. 1,556,988 shares of the company were exchanged, compared to its average volume of 1,840,844. The business has a fifty day simple moving average of $127.40 and a 200-day simple moving average of $121.40. The firm has a market capitalization of $35.05 billion, a P/E ratio of 15.90, a PEG ratio of 0.85 and a beta of 1.44. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The firm had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the firm earned $3.54 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts predict that Discover Financial Services will post 11.77 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.00%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DFS shares. BMO Capital Markets boosted their price objective on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday. Wells Fargo & Company raised their price objective on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. StockNews.com initiated coverage on shares of Discover Financial Services in a research note on Monday, July 15th. They set a “hold” rating on the stock. Royal Bank of Canada increased their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, BTIG Research started coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $131.33.

Discover Financial Services Profile

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; private student loans, 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.