Discover Financial Services (NYSE:DFS) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. grew its stake in shares of Discover Financial Services (NYSE:DFS) by 10.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,162 shares of the financial services provider’s stock after acquiring an additional 665 shares during the period. Raymond James Trust N.A.’s holdings in Discover Financial Services were worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. raised its stake in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 157 shares during the period. Opal Wealth Advisors LLC bought a new stake in Discover Financial Services in the second quarter worth $26,000. Y.D. More Investments Ltd boosted its holdings in Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Discover Financial Services by 72.5% during 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 acquiring an additional 95 shares during the period. Finally, Larson Financial Group LLC boosted 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 acquiring an additional 195 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Up 2.5 %

Shares of NYSE:DFS opened at $179.29 on Monday. Discover Financial Services has a 12 month low of $85.19 and a 12 month high of $188.26. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The company’s fifty day simple moving average is $152.29 and its 200 day simple moving average is $137.83. The firm has a market cap of $45.01 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.12 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the business earned $2.59 EPS. As a group, research analysts forecast that Discover Financial Services will post 13.34 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.56%. Discover Financial Services’s payout ratio is currently 22.60%.

Wall Street Analysts Forecast Growth

DFS has been the subject of several research reports. Royal Bank of Canada increased their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Evercore ISI increased their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $138.81.

Discover Financial Services Company 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; 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.