Discover Financial Services (NYSE:DFS) Shares Sold by Archer Investment Corp

Archer Investment Corp reduced its holdings in shares of Discover Financial Services (NYSE:DFS) by 99.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579 shares of the financial services provider’s stock after selling 100,000 shares during the period. Archer Investment Corp’s holdings in Discover Financial Services were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new stake in Discover Financial Services during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in Discover Financial Services during the 2nd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. grew its stake in Discover Financial Services by 72.5% during the 2nd 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 during the last quarter. Riverview Trust Co purchased a new stake in Discover Financial Services during the 1st quarter valued at about $34,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Discover Financial Services during the 1st quarter valued at about $34,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on DFS shares. Jefferies Financial Group boosted their price target on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. BTIG Research assumed coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. StockNews.com assumed coverage on Discover Financial Services in a research note on Sunday. They issued a “hold” rating on the stock. BMO Capital Markets upped their target price on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. increased their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus target price of $132.94.

Discover Financial Services Price Performance

NYSE:DFS opened at $135.08 on Thursday. The stock has a 50 day moving average price of $133.92 and a 200 day moving average price of $127.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The stock has a market cap of $33.88 billion, a PE ratio of 15.40, a P/E/G ratio of 0.96 and a beta of 1.43. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $3.00. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.54 earnings per share. Equities research analysts expect that Discover Financial Services will post 12.75 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.07%. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

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; 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.