Central Bank & Trust Co. Sells 71,313 Shares of Discover Financial Services (NYSE:DFS)

Central Bank & Trust Co. decreased its position in Discover Financial Services (NYSE:DFS) by 86.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,421 shares of the financial services provider’s stock after selling 71,313 shares during the period. Central Bank & Trust Co.’s holdings in Discover Financial Services were worth $711,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Jaffetilchin Investment Partners LLC increased its stake in Discover Financial Services by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock worth $221,000 after buying an additional 24 shares during the period. Court Place Advisors LLC increased its stake in Discover Financial Services by 0.7% in the first quarter. Court Place Advisors LLC now owns 5,831 shares of the financial services provider’s stock worth $399,000 after buying an additional 39 shares during the period. Quadrant Capital Group LLC increased its stake in Discover Financial Services by 1.1% in the first quarter. Quadrant Capital Group LLC now owns 4,296 shares of the financial services provider’s stock worth $287,000 after buying an additional 46 shares during the period. Perigon Wealth Management LLC increased its stake in Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after buying an additional 48 shares during the period. Finally, Park National Corp OH increased its stake in Discover Financial Services by 0.9% in the first quarter. Park National Corp OH now owns 7,934 shares of the financial services provider’s stock worth $543,000 after buying an additional 70 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of Discover Financial Services (NYSE DFS) traded down 0.77% during trading on Friday, hitting $59.64. 2,163,989 shares of the stock traded hands. The firm has a 50-day moving average of $61.30 and a 200-day moving average of $64.59. The firm has a market capitalization of $22.21 billion, a price-to-earnings ratio of 10.29 and a beta of 1.46. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by $0.05. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 earnings per share. On average, equities analysts forecast that Discover Financial Services will post $5.93 earnings per share for the current year.

Discover Financial Services declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $2.23 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 9.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.35 per share. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 20.73%.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.com-unik.info/2017/08/11/central-bank-trust-co-lowers-stake-in-discover-financial-services-nysedfs-updated-updated-updated.html.

A number of research analysts have commented on DFS shares. Deutsche Bank AG cut shares of Discover Financial Services from a “buy” rating to a “hold” rating and cut their price target for the stock from $87.00 to $71.00 in a research note on Monday, May 1st. BidaskClub upgraded shares of Discover Financial Services from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Instinet restated a “buy” rating and set a $86.00 price target (down previously from $88.00) on shares of Discover Financial Services in a research note on Saturday, April 29th. Jefferies Group LLC restated a “buy” rating and set a $82.00 price target on shares of Discover Financial Services in a research note on Friday, June 16th. Finally, BMO Capital Markets restated a “hold” rating and set a $70.00 price target on shares of Discover Financial Services in a research note on Thursday, June 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $74.21.

In other news, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $62.48, for a total transaction of $953,319.84. Following the completion of the transaction, the chief operating officer now directly owns 830,257 shares in the company, valued at $51,874,457.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $62.52, for a total transaction of $1,875,600.00. The disclosure for this sale can be found here. Insiders have sold 107,744 shares of company stock valued at $6,658,830 over the last quarter. Corporate insiders own 0.96% of the company’s stock.

Discover Financial Services Company Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

What are top analysts saying about Discover Financial Services? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Discover Financial Services and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit