Lynch & Associates IN Buys 208 Shares of Discover Financial Services (NYSE:DFS)

Lynch & Associates IN increased its position in shares of Discover Financial Services (NYSE:DFS) by 0.7% during the 2nd quarter, Holdings Channel reports. The firm owned 29,018 shares of the financial services provider’s stock after purchasing an additional 208 shares during the quarter. Lynch & Associates IN’s holdings in Discover Financial Services were worth $3,796,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Partnership Wealth Management LLC purchased a new position in Discover Financial Services in the fourth quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Larson Financial Group LLC grew its holdings in Discover Financial Services by 348.2% during the second 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 during the period. Finally, Riverview Trust Co purchased a new stake in Discover Financial Services in the first quarter worth $34,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

NYSE:DFS opened at $128.68 on Friday. The stock has a market cap of $32.27 billion, a P/E ratio of 14.67, a PEG ratio of 0.96 and a beta of 1.42. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. The business’s 50-day moving average price is $134.05 and its two-hundred day moving average price is $127.69. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61.

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

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.18%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DFS shares. Jefferies Financial Group upped their price target on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Barclays increased their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. BTIG Research began coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Thirteen investment 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, the stock presently has an average rating of “Hold” and a consensus target price 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.