MML Investors Services LLC increased its position in shares of Discover Financial Services (NYSE:DFS) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,603 shares of the financial services provider’s stock after acquiring an additional 5,030 shares during the quarter. MML Investors Services LLC’s holdings in Discover Financial Services were worth $3,461,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at approximately $26,000. Weaver Consulting Group acquired a new stake in Discover Financial Services during the 1st quarter worth approximately $28,000. IMA Wealth Inc. lifted its holdings in Discover Financial Services by 1,448.3% during the 1st quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 420 shares during the last quarter. Semmax Financial Advisors Inc. lifted its holdings in Discover Financial Services by 75.6% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 180 shares during the last quarter. Finally, Next Capital Management LLC acquired a new stake in Discover Financial Services during the 2nd quarter worth approximately $34,000. 85.04% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. JMP Securities raised Discover Financial Services from an “outperform” rating to a “buy” rating in a report on Thursday, July 25th. Deutsche Bank reaffirmed a “hold” rating and issued a $87.00 price objective on shares of Discover Financial Services in a report on Monday, July 8th. Nomura lifted their price objective on Discover Financial Services from $86.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Monday. Finally, Morgan Stanley set a $97.00 price objective on Discover Financial Services and gave the company a “buy” rating in a report on Friday, August 9th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $85.53.
Shares of DFS traded up $0.61 during midday trading on Friday, hitting $85.11. The company’s stock had a trading volume of 450,331 shares, compared to its average volume of 1,578,364. Discover Financial Services has a one year low of $54.36 and a one year high of $92.98. The company’s fifty day simple moving average is $83.20 and its two-hundred day simple moving average is $78.19. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 2.30. The stock has a market capitalization of $27.14 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.60.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.21. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the company posted $1.91 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts predict that Discover Financial Services will post 9.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.44 dividend. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.76 annualized dividend and a dividend yield of 2.07%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.59%.
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.
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