Discover Financial Services (NYSE:DFS) Shares Bought by Bank of Montreal Can

Bank of Montreal Can raised its position in Discover Financial Services (NYSE:DFS) by 18.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 671,569 shares of the financial services provider’s stock after buying an additional 104,460 shares during the period. Bank of Montreal Can owned about 0.27% of Discover Financial Services worth $93,516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DFS. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services during the second quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. increased its holdings in Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 157 shares in the last quarter. Y.D. More Investments Ltd raised its position 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 worth $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. lifted 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 purchasing an additional 95 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of DFS opened at $182.59 on Wednesday. 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 1-year low of $85.19 and a 1-year high of $188.26. The stock has a market cap of $45.84 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The firm has a fifty day moving average price of $154.16 and a 200 day moving average price of $138.66.

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

Discover Financial Services Announces Dividend

The firm also recently announced 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 1.53%. Discover Financial Services’s payout ratio is 22.60%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company increased their price objective on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada raised 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 note on Friday, October 18th. StockNews.com cut 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 target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.