Doyle Wealth Management Reduces Stock Holdings in Discover Financial Services (NYSE:DFS)

Doyle Wealth Management decreased its stake in Discover Financial Services (NYSE:DFS) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 156,182 shares of the financial services provider’s stock after selling 360 shares during the quarter. Discover Financial Services comprises 1.3% of Doyle Wealth Management’s portfolio, making the stock its 29th biggest holding. Doyle Wealth Management’s holdings in Discover Financial Services were worth $18,048,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in DFS. Creative Planning boosted its holdings in shares of Discover Financial Services by 20.0% in the 3rd quarter. Creative Planning now owns 20,235 shares of the financial services provider’s stock worth $2,486,000 after purchasing an additional 3,374 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Discover Financial Services by 56.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,777 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 1,366 shares during the period. KBC Group NV boosted its holdings in shares of Discover Financial Services by 9.0% in the 3rd quarter. KBC Group NV now owns 85,935 shares of the financial services provider’s stock worth $10,557,000 after purchasing an additional 7,101 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Discover Financial Services by 5.0% in the 3rd quarter. King Luther Capital Management Corp now owns 8,075 shares of the financial services provider’s stock worth $992,000 after purchasing an additional 387 shares during the period. Finally, Essex Financial Services Inc. boosted its holdings in shares of Discover Financial Services by 95.1% in the 3rd quarter. Essex Financial Services Inc. now owns 2,027 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 988 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Shares of NYSE:DFS traded up $4.95 during trading on Tuesday, reaching $107.95. The stock had a trading volume of 1,803,836 shares, compared to its average volume of 1,800,396. Discover Financial Services has a one year low of $98.38 and a one year high of $135.69. The company has a market capitalization of $30.33 billion, a P/E ratio of 6.28, a PEG ratio of 0.24 and a beta of 1.45. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.38. The firm’s 50-day simple moving average is $111.44 and its 200 day simple moving average is $115.45.

Discover Financial Services (NYSE:DFS – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.64. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Discover Financial Services had a net margin of 38.42% and a return on equity of 41.57%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $5.04 EPS. Equities research analysts forecast that Discover Financial Services will post 14.69 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Investors of record on Thursday, May 26th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, May 25th. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 2.22%. Discover Financial Services’s dividend payout ratio (DPR) is 11.80%.

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Discover Financial Services from $145.00 to $150.00 in a report on Friday, April 29th. StockNews.com assumed coverage on Discover Financial Services in a report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their price objective on Discover Financial Services from $150.00 to $142.00 and set an “overweight” rating for the company in a report on Wednesday, January 19th. Piper Sandler upgraded Discover Financial Services from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $142.00 in a report on Monday, January 24th. They noted that the move was a valuation call. Finally, Citigroup boosted their price objective on Discover Financial Services from $154.00 to $157.00 in a report on Friday, April 29th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services presently has an average rating of “Buy” and a consensus price target of $138.76.

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.

Recommended Stories