3,455 Shares in Discover Financial Services (DFS) Purchased by Weatherstone Capital Management

Weatherstone Capital Management purchased a new position in shares of Discover Financial Services (NYSE:DFS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,455 shares of the financial services provider’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DFS. Financial Gravity Companies Inc. purchased a new stake in Discover Financial Services during the fourth quarter worth $29,000. Cerebellum GP LLC acquired a new position in Discover Financial Services during the fourth quarter worth $30,000. Massey Quick Simon & CO. LLC acquired a new position in Discover Financial Services during the fourth quarter worth $30,000. Pinnacle Bank acquired a new position in Discover Financial Services during the fourth quarter worth $32,000. Finally, Berman Capital Advisors LLC acquired a new position in Discover Financial Services during the fourth quarter worth $37,000. 87.29% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Carlos Minetti sold 3,750 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $71.73, for a total value of $268,987.50. Following the completion of the sale, the executive vice president now directly owns 128,327 shares in the company, valued at $9,204,895.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Roger C. Hochschild bought 30,000 shares of Discover Financial Services stock in a transaction dated Monday, January 28th. The stock was acquired at an average price of $66.67 per share, with a total value of $2,000,100.00. Following the completion of the transaction, the chief executive officer now directly owns 834,457 shares of the company’s stock, valued at $55,633,248.19. The disclosure for this purchase can be found here. Insiders sold 117,062 shares of company stock valued at $8,124,691 over the last quarter. Company insiders own 0.81% of the company’s stock.

DFS has been the subject of a number of research analyst reports. Stephens restated a “hold” rating and set a $80.00 price objective on shares of Discover Financial Services in a research report on Sunday, January 6th. Zacks Investment Research cut shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. BMO Capital Markets reduced their price objective on shares of Discover Financial Services to $85.00 and set a “market perform” rating for the company in a research report on Friday, January 25th. Compass Point set a $74.00 price objective on shares of Discover Financial Services and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, Bank of America set a $80.00 price objective on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Friday, January 25th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $81.23.

Shares of NYSE DFS traded up $1.11 during mid-day trading on Tuesday, reaching $76.92. The company’s stock had a trading volume of 875,315 shares, compared to its average volume of 1,672,506. The stock has a market capitalization of $24.90 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 1.10 and a beta of 1.60. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 2.58. Discover Financial Services has a 1-year low of $54.36 and a 1-year high of $80.36.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, January 24th. The financial services provider reported $2.03 EPS for the quarter, missing the Zacks’ consensus estimate of $2.09 by ($0.06). The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. Discover Financial Services had a net margin of 21.25% and a return on equity of 26.22%. Discover Financial Services’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.51 earnings per share. As a group, equities research analysts expect that Discover Financial Services will post 8.64 EPS for the current year.

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About Discover Financial Services

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.

Read More: What impact do institutional investors have on markets?

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

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