Intercontinental Wealth Advisors LLC Purchases 154 Shares of Discover Financial Services (NYSE:DFS)

Intercontinental Wealth Advisors LLC raised its position in Discover Financial Services (NYSE:DFS) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,050 shares of the financial services provider’s stock after acquiring an additional 154 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in Discover Financial Services were worth $336,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Discover Financial Services in the fourth quarter worth about $354,824,000. Invesco Ltd. raised its stake in shares of Discover Financial Services by 43.8% in the fourth quarter. Invesco Ltd. now owns 2,099,589 shares of the financial services provider’s stock worth $242,629,000 after buying an additional 639,624 shares during the period. Boston Partners raised its stake in shares of Discover Financial Services by 13.0% in the fourth quarter. Boston Partners now owns 4,347,646 shares of the financial services provider’s stock worth $502,490,000 after buying an additional 501,073 shares during the period. BlackRock Inc. raised its stake in Discover Financial Services by 2.3% during 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 purchasing an additional 457,067 shares during the period. Finally, Polaris Wealth Advisory Group LLC bought a new stake in Discover Financial Services during the 1st quarter valued at approximately $39,524,000. Institutional investors own 85.53% of the company’s stock.

Discover Financial Services Price Performance

DFS opened at $102.35 on Friday. The business has a fifty day moving average of $100.99 and a 200 day moving average of $109.23. 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 stock has a market cap of $27.96 billion, a P/E ratio of 6.66, a PEG ratio of 0.23 and a beta of 1.45.

Discover Financial Services (NYSE:DFSGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.19. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. Discover Financial Services’s revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.55 EPS. As a group, sell-side analysts anticipate that Discover Financial Services will post 15.21 EPS for the current year.

Discover Financial Services Announces Dividend

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

Analyst Upgrades and Downgrades

DFS has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Friday, July 22nd. Keefe, Bruyette & Woods cut their price target on Discover Financial Services from $150.00 to $135.00 in a report on Monday, July 11th. Bank of America cut their price target on Discover Financial Services from $128.00 to $120.00 in a report on Sunday, July 24th. Wells Fargo & Company cut their price target on 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. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Discover Financial Services from $150.00 to $140.00 in a report on Friday, July 22nd. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.56.

Discover Financial Services Company Profile

(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.

Further Reading

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSGet Rating).

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

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.