Discover Financial Services (DFS) Stake Boosted by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC grew its holdings in Discover Financial Services (NYSE:DFS) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,027 shares of the financial services provider’s stock after purchasing an additional 156 shares during the period. Woodmont Investment Counsel LLC’s holdings in Discover Financial Services were worth $250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in shares of Discover Financial Services by 3,280.4% in the 1st quarter. BlackRock Inc. now owns 30,704,582 shares of the financial services provider’s stock valued at $2,099,886,000 after purchasing an additional 29,796,268 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Discover Financial Services by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 25,530,944 shares of the financial services provider’s stock valued at $1,746,060,000 after purchasing an additional 321,312 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Discover Financial Services by 0.7% in the 1st quarter. JPMorgan Chase & Co. now owns 12,546,613 shares of the financial services provider’s stock valued at $858,062,000 after purchasing an additional 91,440 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Discover Financial Services by 19.5% in the 1st quarter. Primecap Management Co. CA now owns 6,681,700 shares of the financial services provider’s stock valued at $456,961,000 after purchasing an additional 1,088,500 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Discover Financial Services by 1.6% in the 2nd quarter. LSV Asset Management now owns 6,472,520 shares of the financial services provider’s stock valued at $402,525,000 after purchasing an additional 103,554 shares during the last quarter. Institutional investors own 85.45% of the company’s stock.

In other news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $59.64, for a total transaction of $909,987.12. Following the completion of the sale, the chief operating officer now directly owns 799,741 shares in the company, valued at $47,696,553.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.52, for a total transaction of $1,875,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,002 shares of company stock valued at $9,580,337. 0.96% of the stock is currently owned by company insiders.

Discover Financial Services (NYSE:DFS) traded down 0.18% on Thursday, hitting $60.23. The stock had a trading volume of 276,426 shares. Discover Financial Services has a 52-week low of $53.91 and a 52-week high of $74.33. The stock’s 50-day moving average is $59.72 and its 200-day moving average is $62.41. The company has a market cap of $22.43 billion, a P/E ratio of 10.39 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 earnings per share. Analysts expect that Discover Financial Services will post $5.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th were issued a dividend of $0.35 per share. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio is currently 24.18%.

Discover Financial Services announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $2.23 billion in shares. This buyback authorization permits the financial services provider to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: “Discover Financial Services (DFS) Stake Boosted by Woodmont Investment Counsel LLC” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://sportsperspectives.com/2017/09/21/discover-financial-services-dfs-stake-boosted-by-woodmont-investment-counsel-llc.html.

DFS has been the topic of several recent research reports. Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. William Blair reissued an “outperform” rating on shares of Discover Financial Services in a report on Tuesday, July 18th. Instinet reissued a “buy” rating and set a $81.00 price objective (down previously from $86.00) on shares of Discover Financial Services in a report on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price objective (down previously from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. Finally, BidaskClub downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $73.95.

Discover Financial Services Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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.

Latest News

Leave a Reply