Intrust Bank NA Has $1.26 Million Position in Discover Financial Services (DFS)

Intrust Bank NA lessened its stake in shares of Discover Financial Services (NYSE:DFS) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,494 shares of the financial services provider’s stock after selling 782 shares during the period. Intrust Bank NA’s holdings in Discover Financial Services were worth $1,257,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DFS. Diamond Hill Capital Management Inc. increased its position in Discover Financial Services by 97.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock valued at $453,619,000 after buying an additional 3,475,126 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Discover Financial Services during the 2nd quarter valued at approximately $199,350,000. Principal Financial Group Inc. increased its position in Discover Financial Services by 492.6% during the 2nd quarter. Principal Financial Group Inc. now owns 3,504,010 shares of the financial services provider’s stock valued at $217,914,000 after buying an additional 2,912,742 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Discover Financial Services by 320.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,672,385 shares of the financial services provider’s stock valued at $166,196,000 after buying an additional 2,037,515 shares in the last quarter. Finally, Capital World Investors increased its position in Discover Financial Services by 18.3% during the 2nd quarter. Capital World Investors now owns 10,578,342 shares of the financial services provider’s stock valued at $657,867,000 after buying an additional 1,638,334 shares in the last quarter. 88.02% of the stock is owned by institutional investors.

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In related news, CFO R. Mark Graf sold 16,503 shares of Discover Financial Services stock in a transaction on Friday, October 27th. The stock was sold at an average price of $66.67, for a total transaction of $1,100,255.01. Following the transaction, the chief financial officer now directly owns 82,402 shares in the company, valued at $5,493,741.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.80, for a total value of $2,004,000.00. The disclosure for this sale can be found here. Insiders have sold 172,277 shares of company stock worth $11,020,650 over the last quarter. 0.96% of the stock is owned by company insiders.

Discover Financial Services (DFS) traded down $0.71 during midday trading on Monday, reaching $64.76. The company had a trading volume of 1,630,800 shares, compared to its average volume of 2,670,307. The stock has a market capitalization of $23,520.00, a P/E ratio of 11.13, a PEG ratio of 1.71 and a beta of 1.51. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $74.33.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 annualized dividend and a yield of 2.16%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.10%.

Discover Financial Services declared that its board has authorized a stock buyback plan on Tuesday, July 25th that authorizes the company to buyback $2.75 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 11.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

A number of research firms recently weighed in on DFS. Oppenheimer Holdings, Inc. set a $71.00 price objective on Discover Financial Services and gave the company a “buy” rating in a research report on Tuesday, October 24th. Compass Point lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Nomura reduced their price objective on Discover Financial Services from $81.00 to $79.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Bank of America Corporation raised their price objective on Discover Financial Services from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets reduced their price objective on Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company’s stock. Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $74.45.

Discover Financial Services Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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