Discover Financial Services (NYSE:DFS) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 27.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,982 shares of the financial services provider’s stock after selling 3,800 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Discover Financial Services were worth $1,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DFS. Opal Wealth Advisors LLC acquired a new position in Discover Financial Services during the 2nd quarter valued at approximately $26,000. Y.D. More Investments Ltd boosted its position in Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in 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 valued at $30,000 after purchasing an additional 95 shares during the period. Larson Financial Group LLC boosted its position in 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 purchasing an additional 195 shares during the period. Finally, Riverview Trust Co acquired a new position in Discover Financial Services during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on 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 assumed coverage on Discover Financial Services in a research report on Tuesday. They set a “hold” rating for the company. BTIG Research assumed coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating for the company. Barclays boosted their price target on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets boosted their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Thirteen 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 currently has a consensus rating of “Hold” and an average target price of $132.94.

Discover Financial Services Stock Up 2.8 %

Shares of Discover Financial Services stock opened at $137.63 on Wednesday. The stock’s fifty day moving average is $134.17 and its 200-day moving average is $128.26. The firm has a market capitalization of $34.51 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61.

Discover Financial Services (NYSE:DFS) last issued 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 return on equity of 20.92% and a net margin of 12.88%. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the company posted $3.54 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts anticipate that Discover Financial Services will post 12.87 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.03%. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Discover Financial Services Profile

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.