Camden National Bank Takes Position in Discover Financial Services (NYSE:DFS)

Camden National Bank acquired a new position in Discover Financial Services (NYSE:DFS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,978 shares of the financial services provider’s stock, valued at approximately $277,000.

A number of other hedge funds also recently bought and sold shares of DFS. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the 2nd quarter valued at about $26,000. DiNuzzo Private Wealth Inc. increased its holdings in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares during the last quarter. Y.D. More Investments Ltd raised its position in Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE:DFS opened at $179.29 on Friday. The business’s 50-day moving average is $152.29 and its 200 day moving average is $137.73. Discover Financial Services has a 12 month low of $85.19 and a 12 month high of $188.26. The company has a market capitalization of $45.01 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.12 and a beta of 1.41. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the company earned $2.59 EPS. On average, equities research analysts forecast that Discover Financial Services will post 13.34 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.56%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their target price on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada lifted their price objective on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Evercore ISI lifted their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $138.81.

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; 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.