BerganKDV Wealth Management LLC Acquires 2,313 Shares of Discover Financial Services (NYSE:DFS)

BerganKDV Wealth Management LLC raised its holdings in Discover Financial Services (NYSE:DFS) by 6.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 35,943 shares of the financial services provider’s stock after purchasing an additional 2,313 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Discover Financial Services were worth $3,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of DFS. National Asset Management Inc. raised its stake in Discover Financial Services by 8.7% in the fourth quarter. National Asset Management Inc. now owns 3,216 shares of the financial services provider’s stock valued at $372,000 after buying an additional 257 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Discover Financial Services by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 68,075 shares of the financial services provider’s stock worth $7,866,000 after purchasing an additional 2,087 shares during the period. D.A. Davidson & CO. bought a new position in shares of Discover Financial Services during the fourth quarter worth approximately $206,000. CWM LLC bought a new position in shares of Discover Financial Services during the fourth quarter worth approximately $733,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Discover Financial Services by 1.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 64,836 shares of the financial services provider’s stock worth $7,492,000 after purchasing an additional 1,224 shares during the period. Institutional investors own 85.53% of the company’s stock.

Analyst Upgrades and Downgrades

DFS has been the topic of a number of recent research reports. Credit Suisse Group lowered their target price on Discover Financial Services to $134.00 in a research note on Friday, July 22nd. Bank of America lowered their target price on Discover Financial Services from $128.00 to $120.00 in a research note on Sunday, July 24th. Wolfe Research lowered Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 price objective on the stock. in a research note on Thursday, May 12th. Piper Sandler raised their price objective on Discover Financial Services to $132.00 in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Discover Financial Services from $150.00 to $135.00 in a research note on Monday, July 11th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.56.

Discover Financial Services Price Performance

Shares of NYSE DFS traded down $0.01 during mid-day trading on Friday, hitting $102.35. 1,313,984 shares of the stock traded hands, compared to its average volume of 2,076,221. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.26 and a quick ratio of 1.26. Discover Financial Services has a twelve month low of $88.02 and a twelve month high of $135.69. The company has a market cap of $27.96 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 0.23 and a beta of 1.45. The firm has a 50 day simple moving average of $100.99 and a two-hundred day simple moving average of $109.23.

Discover Financial Services (NYSE:DFSGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.19. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the business posted $5.55 EPS. Discover Financial Services’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, equities research analysts forecast that Discover Financial Services will post 15.21 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Thursday, August 25th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, August 24th. Discover Financial Services’s dividend payout ratio (DPR) is 15.63%.

About Discover Financial Services

(Get Rating)

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.

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

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