Discover Financial Services (NYSE:DFS) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its stake in Discover Financial Services (NYSE:DFS) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 78,469 shares of the financial services provider’s stock after selling 4,350 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Discover Financial Services were worth $8,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Discover Financial Services in the 4th quarter valued at $35,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Discover Financial Services in the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on DFS shares. Wolfe Research restated a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Citigroup raised their price target on Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. HSBC boosted their price objective on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Evercore ISI lifted their target price on shares of Discover Financial Services from $117.00 to $140.00 and gave the company an “in-line” rating in a report on Thursday, February 22nd. Finally, Seaport Res Ptn cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $126.29.

Get Our Latest Analysis on Discover Financial Services

Discover Financial Services Price Performance

NYSE:DFS traded up $1.03 during trading hours on Wednesday, hitting $122.13. The company’s stock had a trading volume of 886,973 shares, compared to its average volume of 1,963,230. The company has a market capitalization of $30.61 billion, a PE ratio of 13.81, a PEG ratio of 0.74 and a beta of 1.41. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65. The business’s 50-day moving average is $124.80 and its two-hundred day moving average is $114.92. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12.

Discover Financial Services (NYSE:DFSGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same quarter last year, the business earned $3.58 EPS. As a group, research analysts anticipate that Discover Financial Services will post 11.48 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Discover Financial Services Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSFree Report).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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