Jacobi Capital Management LLC Has $593,000 Position in Discover Financial Services (NYSE:DFS)

Jacobi Capital Management LLC grew its stake in Discover Financial Services (NYSE:DFS) by 1.9% during the first quarter, HoldingsChannel reports. The firm owned 5,381 shares of the financial services provider’s stock after buying an additional 101 shares during the quarter. Jacobi Capital Management LLC’s holdings in Discover Financial Services were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DFS. Norges Bank acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $354,824,000. Invesco Ltd. raised its holdings in Discover Financial Services by 43.8% in the 4th quarter. Invesco Ltd. now owns 2,099,589 shares of the financial services provider’s stock valued at $242,629,000 after buying an additional 639,624 shares during the last quarter. Boston Partners raised its holdings in Discover Financial Services by 13.0% in the 4th quarter. Boston Partners now owns 4,347,646 shares of the financial services provider’s stock valued at $502,490,000 after buying an additional 501,073 shares during the last quarter. BlackRock Inc. raised its holdings in Discover Financial Services by 2.3% in the 4th quarter. BlackRock Inc. now owns 20,610,036 shares of the financial services provider’s stock valued at $2,381,696,000 after buying an additional 457,067 shares during the last quarter. Finally, Polaris Wealth Advisory Group LLC bought a new position in Discover Financial Services in the 1st quarter valued at approximately $39,524,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $102.35 on Friday. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.23 and a beta of 1.45. Discover Financial Services has a 52 week low of $88.02 and a 52 week high of $135.69. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.43. The firm has a 50 day moving average of $100.99 and a 200-day moving average of $109.23.

Discover Financial Services (NYSE:DFSGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.96 EPS for the quarter, topping the consensus estimate of $3.77 by $0.19. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. Discover Financial Services had a net margin of 34.89% and a return on equity of 36.35%. The company’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.55 EPS. On average, equities analysts forecast that Discover Financial Services will post 15.21 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 24th. Discover Financial Services’s dividend payout ratio (DPR) is 15.63%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DFS shares. Citigroup lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $140.00 to $115.00 in a report on Friday, July 22nd. Wells Fargo & Company dropped their price objective on shares of Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a report on Wednesday, July 13th. Keefe, Bruyette & Woods dropped their price objective on shares of Discover Financial Services from $150.00 to $135.00 in a report on Monday, July 11th. Piper Sandler raised their price objective on shares of Discover Financial Services to $132.00 in a report on Friday, July 22nd. Finally, Bank of America lowered their price target on shares of Discover Financial Services from $128.00 to $120.00 in a report on Sunday, July 24th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.56.

About Discover Financial Services

(Get Rating)

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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