Discover Financial Services (DFS) Holdings Reduced by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. lowered its position in shares of Discover Financial Services (NYSE:DFS) by 7.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,175 shares of the financial services provider’s stock after selling 1,263 shares during the quarter. First Wilshire Securities Management Inc.’s holdings in Discover Financial Services were worth $1,092,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Discover Financial Services by 1.2% during the first quarter. BlackRock Inc. now owns 24,203,881 shares of the financial services provider’s stock worth $1,740,986,000 after acquiring an additional 288,682 shares during the last quarter. Boston Partners raised its position in shares of Discover Financial Services by 1.4% during the first quarter. Boston Partners now owns 12,368,650 shares of the financial services provider’s stock worth $889,676,000 after acquiring an additional 168,791 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Discover Financial Services by 6.3% during the first quarter. Diamond Hill Capital Management Inc. now owns 7,712,071 shares of the financial services provider’s stock worth $554,729,000 after acquiring an additional 454,282 shares during the last quarter. LSV Asset Management raised its position in shares of Discover Financial Services by 0.5% during the first quarter. LSV Asset Management now owns 6,935,251 shares of the financial services provider’s stock worth $498,852,000 after acquiring an additional 37,101 shares during the last quarter. Finally, Eaton Vance Management raised its position in shares of Discover Financial Services by 18.6% during the fourth quarter. Eaton Vance Management now owns 2,782,209 shares of the financial services provider’s stock worth $214,007,000 after acquiring an additional 436,199 shares during the last quarter. Institutional investors own 86.49% of the company’s stock.

Discover Financial Services opened at $74.84 on Thursday, MarketBeat Ratings reports. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $81.93. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $26.27 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 0.92 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, April 26th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.05. Discover Financial Services had a return on equity of 22.79% and a net margin of 18.43%. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. equities research analysts anticipate that Discover Financial Services will post 7.72 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 7th. Shareholders of record on Thursday, May 24th were paid a $0.35 dividend. The ex-dividend date was Wednesday, May 23rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.87%. Discover Financial Services’s payout ratio is 23.41%.

A number of equities research analysts have recently weighed in on the company. UBS Group upgraded Discover Financial Services from a “sell” rating to a “neutral” rating and set a $81.93 target price for the company in a research report on Monday, May 7th. Barclays dropped their target price on Discover Financial Services from $94.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, March 29th. Oppenheimer set a $82.00 target price on Discover Financial Services and gave the stock a “buy” rating in a research report on Thursday, April 12th. Zacks Investment Research upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. Finally, BMO Capital Markets dropped their target price on Discover Financial Services from $93.00 to $91.00 and set a “market perform” rating for the company in a research report on Monday, April 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Discover Financial Services presently has an average rating of “Buy” and an average price target of $85.43.

In other Discover Financial Services news, Director Mary K. Bush sold 4,674 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $76.17, for a total value of $356,018.58. Following the completion of the transaction, the director now directly owns 54,060 shares of the company’s stock, valued at $4,117,750.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael H. Moskow sold 2,324 shares of the business’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $74.02, for a total value of $172,022.48. Following the completion of the transaction, the director now directly owns 50,027 shares of the company’s stock, valued at $3,702,998.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,007 shares of company stock valued at $7,131,881. Insiders own 0.81% of the company’s stock.

Discover Financial Services Profile

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.

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:DFS).

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.

Leave a Reply