Discover Financial Services (NYSE:DFS) Shares Bought by Harvest Management LLC

Harvest Management LLC lifted its position in shares of Discover Financial Services (NYSE:DFS) by 100.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,000 shares of the financial services provider’s stock after acquiring an additional 2,500 shares during the period. Discover Financial Services accounts for 0.4% of Harvest Management LLC’s portfolio, making the stock its 25th biggest holding. Harvest Management LLC’s holdings in Discover Financial Services were worth $701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DFS. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the 2nd quarter valued at $26,000. DiNuzzo Private Wealth Inc. increased its holdings in Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after buying an additional 157 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after buying an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of 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 worth $30,000 after buying an additional 95 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services during the 3rd quarter worth about $30,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Down 1.4 %

Shares of DFS stock opened at $179.96 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. Discover Financial Services has a one year low of $93.83 and a one year high of $188.26. The company’s fifty day moving average price is $156.66 and its 200-day moving average price is $139.87. The company has a market capitalization of $45.18 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.16 and a beta of 1.45.

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

Discover Financial Services Announces Dividend

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

Analysts Set New Price Targets

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