1,531 Shares in Discover Financial Services (NYSE:DFS) Acquired by Invesco LLC

Invesco LLC acquired a new position in Discover Financial Services (NYSE:DFS) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,531 shares of the financial services provider’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Partnership Wealth Management LLC bought a new position in Discover Financial Services in the 4th quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Discover Financial Services during the 4th quarter worth $31,000. Riverview Trust Co bought a new stake in shares of Discover Financial Services during the 1st quarter worth $34,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the 4th quarter worth $35,000. Finally, West Paces Advisors Inc. boosted its stake in shares of Discover Financial Services by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 166 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BTIG Research assumed coverage on Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating for the company. Wells Fargo & Company increased their target price on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods increased their target price on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. BMO Capital Markets increased their target price on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $131.33.

Discover Financial Services Stock Down 0.2 %

Discover Financial Services stock traded down $0.22 during mid-day trading on Tuesday, hitting $139.60. 1,377,578 shares of the company’s stock were exchanged, compared to its average volume of 1,837,538. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market cap of $35.01 billion, a P/E ratio of 15.99, a P/E/G ratio of 0.98 and a beta of 1.44. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The stock has a 50 day moving average of $127.71 and a two-hundred day moving average of $121.61.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping the consensus estimate of $3.06 by $3.00. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.54 earnings per share. As a group, analysts anticipate that Discover Financial Services will post 11.77 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

About Discover Financial Services

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.