Discover Financial Services (NYSE:DFS) Shares Purchased by Van Hulzen Asset Management LLC

Van Hulzen Asset Management LLC boosted its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,677 shares of the financial services provider’s stock after buying an additional 95 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Discover Financial Services were worth $2,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DFS. Partnership Wealth Management LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in Discover Financial Services in the 2nd quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. raised its position in Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 95 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Discover Financial Services by 348.2% in the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after buying an additional 195 shares during the period. Finally, Riverview Trust Co acquired a new position in shares of Discover Financial Services during the first quarter worth about $34,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 3.6 %

DFS stock opened at $133.33 on Tuesday. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $147.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The company has a market cap of $33.48 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42. The company has a fifty day moving average price of $134.06 and a 200 day moving average price of $127.83.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the company earned $3.54 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. Sell-side analysts expect that Discover Financial Services will post 12.87 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.10%. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Analyst Ratings Changes

DFS has been the topic of several analyst reports. Royal Bank of Canada raised their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. StockNews.com initiated coverage on Discover Financial Services in a report on Monday. They issued a “hold” rating on the stock. Jefferies Financial Group lifted their price target on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, BTIG Research started coverage on Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and an average target price of $132.94.

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.