Huntington National Bank Decreases Stake in Discover Financial Services (NYSE:DFS)

Huntington National Bank lessened its holdings in Discover Financial Services (NYSE:DFS) by 17.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,233 shares of the financial services provider’s stock after selling 672 shares during the quarter. Huntington National Bank’s holdings in Discover Financial Services were worth $454,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DFS. Eagle Bluffs Wealth Management LLC lifted its stake in shares of Discover Financial Services by 0.5% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock worth $2,034,000 after acquiring an additional 67 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after buying an additional 68 shares in the last quarter. Inlet Private Wealth LLC increased its holdings in Discover Financial Services by 2.4% during the 3rd quarter. Inlet Private Wealth LLC now owns 3,185 shares of the financial services provider’s stock valued at $447,000 after acquiring an additional 75 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in Discover Financial Services by 0.4% during the third quarter. First Trust Direct Indexing L.P. now owns 17,664 shares of the financial services provider’s stock worth $2,478,000 after acquiring an additional 75 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its stake in Discover Financial Services by 24.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after buying an additional 76 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 1.3 %

Shares of Discover Financial Services stock opened at $176.07 on Friday. The stock has a market cap of $44.21 billion, a PE ratio of 14.21, a PEG ratio of 1.13 and a beta of 1.41. Discover Financial Services has a 52-week low of $84.03 and a 52-week high of $188.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The firm has a 50-day moving average of $147.90 and a 200-day moving average of $135.91.

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 for the quarter, topping 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 analyst estimates of $4.36 billion. During the same quarter in the previous year, the company posted $2.59 EPS. As a group, sell-side analysts forecast that Discover Financial Services will post 13.22 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 22.60%.

Analyst Ratings Changes

DFS has been the topic of several analyst reports. Wells Fargo & Company raised 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 note on Friday, October 18th. Royal Bank of Canada upped their price target on shares of 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. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Evercore ISI raised their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $138.81.

Discover Financial Services 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.