Susquehanna Fundamental Investments LLC Takes Position in Discover Financial Services (DFS)

Susquehanna Fundamental Investments LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 32,500 shares of the financial services provider’s stock, valued at approximately $2,338,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC acquired a new position in shares of Discover Financial Services during the 1st quarter valued at about $143,000. Focused Wealth Management Inc purchased a new stake in Discover Financial Services in the 4th quarter valued at about $177,000. Equity Investment Corp purchased a new stake in Discover Financial Services in the 4th quarter valued at about $205,000. Hunter Associates Investment Management LLC purchased a new stake in Discover Financial Services in the 4th quarter valued at about $215,000. Finally, Roberts Glore & Co. Inc. IL purchased a new stake in Discover Financial Services in the 4th quarter valued at about $224,000. 86.49% of the stock is currently owned by institutional investors.

DFS stock opened at $74.84 on Thursday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.50 and a current ratio of 1.50. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $81.93. The company has a market cap of $26.27 billion, a P/E ratio of 12.52, a PEG ratio of 0.92 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 26th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.05. Discover Financial Services had a net margin of 18.43% and a return on equity of 22.79%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. analysts anticipate that Discover Financial Services will post 7.72 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 7th. Investors of record on Thursday, May 24th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.87%. Discover Financial Services’s payout ratio is 23.41%.

DFS has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. UBS Group initiated coverage on shares of Discover Financial Services in a report on Tuesday, March 27th. They issued a “sell” rating and a $70.00 price objective on the stock. JMP Securities reduced their price objective on shares of Discover Financial Services from $91.00 to $84.00 and set a “market outperform” rating on the stock in a report on Friday, April 27th. Goldman Sachs Group lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Monday, April 16th. Finally, Wells Fargo & Co reduced their price objective on shares of Discover Financial Services from $84.00 to $76.00 and set a “market perform” rating on the stock in a report on Thursday, March 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Discover Financial Services has a consensus rating of “Buy” and an average target price of $85.43.

In related news, Director Mary K. Bush sold 4,674 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $76.17, for a total transaction of $356,018.58. Following the sale, the director now directly owns 54,060 shares in the company, valued at $4,117,750.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $70.08, for a total value of $2,102,400.00. The disclosure for this sale can be found here. Insiders have sold 101,007 shares of company stock worth $7,131,881 over the last 90 days. Insiders own 0.81% of the company’s stock.

Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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

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