Discover Financial Services (NYSE:DFS) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lowered its position in Discover Financial Services (NYSE:DFS) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 408,871 shares of the financial services provider’s stock after selling 34,836 shares during the quarter. National Bank of Canada FI owned 0.16% of Discover Financial Services worth $54,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Partnership Wealth Management LLC purchased a new position in Discover Financial Services during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the second quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the period. Larson Financial Group LLC grew its holdings in Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in Discover Financial Services during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of DFS opened at $132.34 on Friday. The company has a market capitalization of $33.19 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 0.96 and a beta of 1.43. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The business’s 50-day moving average is $134.09 and its 200-day moving average is $127.54. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.54 EPS. Equities research analysts expect that Discover Financial Services will post 12.75 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is 31.93%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DFS. BMO Capital Markets raised their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Jefferies Financial Group increased their price objective on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada lifted their target price on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their target price on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $132.94.

About Discover Financial Services

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.