SpiderRock Advisors LLC Invests $328,000 in Discover Financial Services (NYSE:DFS)

SpiderRock Advisors LLC bought a new stake in Discover Financial Services (NYSE:DFSFree Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,721 shares of the financial services provider’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DFS. DAVENPORT & Co LLC increased its stake in shares of Discover Financial Services by 335.4% in the fourth quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after acquiring an additional 49,145 shares during the period. D.A. Davidson & CO. raised its stake in shares of Discover Financial Services by 238.7% during the 4th quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock valued at $1,662,000 after buying an additional 10,418 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Discover Financial Services by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock valued at $103,000,000 after buying an additional 16,532 shares during the period. Principal Securities Inc. purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $1,073,000. Finally, Vest Financial LLC boosted its stake in shares of Discover Financial Services by 18.8% in the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after buying an additional 19,283 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE DFS traded down $2.86 during trading hours on Friday, hitting $129.20. 411,470 shares of the company’s stock traded hands, compared to its average volume of 1,863,450. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s 50-day moving average is $125.21 and its 200-day moving average is $119.41. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $133.78. The company has a market capitalization of $32.40 billion, a PE ratio of 15.06, a PEG ratio of 0.80 and a beta of 1.44.

Discover Financial Services (NYSE:DFSGet Free Report) last posted its quarterly earnings results 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). The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same period in the prior year, the business posted $3.58 EPS. Equities analysts forecast that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DFS. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. BTIG Research assumed coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their price objective on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. HSBC raised their target price on Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a research report on Thursday, March 21st. Finally, Jefferies Financial Group increased their price target on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average target price of $126.29.

Read Our Latest Analysis on Discover Financial Services

Discover Financial Services Company 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.

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

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