Delap Wealth Advisory LLC Takes $205,000 Position in Discover Financial Services (NYSE:DFS)

Delap Wealth Advisory LLC acquired a new stake in Discover Financial Services (NYSE:DFS) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,562 shares of the financial services provider’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DFS. Partnership Wealth Management LLC bought a new position in Discover Financial Services in the fourth quarter valued at approximately $25,000. MeadowBrook Investment Advisors LLC bought a new position in Discover Financial Services in the fourth quarter valued at approximately $31,000. Riverview Trust Co bought a new position in Discover Financial Services in the first quarter valued at approximately $34,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Discover Financial Services during the fourth quarter worth $35,000. Finally, West Paces Advisors Inc. boosted its position in shares of Discover Financial Services by 110.7% during the first quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 166 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DFS. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Royal Bank of Canada raised their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods raised their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, StockNews.com initiated coverage on shares of Discover Financial Services in a report on Tuesday. They set a “hold” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and an average price target of $131.33.

Discover Financial Services Price Performance

Shares of NYSE DFS traded up $0.97 during midday trading on Friday, reaching $142.59. 291,258 shares of the company were exchanged, compared to its average volume of 1,821,321. The stock’s 50-day moving average price is $128.62 and its 200-day moving average price is $122.07. The stock has a market cap of $35.76 billion, a P/E ratio of 16.15, a PEG ratio of 0.93 and a beta of 1.44. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.54 earnings per share. On average, sell-side analysts anticipate that Discover Financial Services will post 12.23 earnings per share 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 issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.96%. Discover Financial Services’s dividend payout ratio (DPR) is presently 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.