California State Teachers Retirement System Has $53.07 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

California State Teachers Retirement System raised its holdings in Discover Financial Services (NYSE:DFS) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 404,849 shares of the financial services provider’s stock after buying an additional 36,941 shares during the quarter. California State Teachers Retirement System’s holdings in Discover Financial Services were worth $53,072,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Partnership Wealth Management LLC bought a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $25,000. MeadowBrook Investment Advisors LLC bought a new stake in Discover Financial Services during the fourth quarter worth $31,000. Riverview Trust Co bought a new stake in Discover Financial Services during the first quarter worth $34,000. Turtle Creek Wealth Advisors LLC bought a new position in Discover Financial Services in the 4th quarter valued at $35,000. Finally, West Paces Advisors Inc. grew its stake in Discover Financial Services by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 316 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 166 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

NYSE DFS traded down $0.08 during trading on Thursday, reaching $143.91. The company’s stock had a trading volume of 8,503 shares, compared to its average volume of 1,796,187. The stock has a market capitalization of $36.09 billion, a PE ratio of 16.42, a P/E/G ratio of 0.96 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.07 and a quick ratio of 1.12. The firm has a fifty day moving average of $130.10 and a 200 day moving average of $123.05. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a return on equity of 20.53% and a net margin of 12.88%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.54 EPS. Analysts expect that Discover Financial Services will post 12.23 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 1.95%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Barclays upped their price target on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Royal Bank of Canada upped their price target on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. BTIG Research began coverage on Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, StockNews.com began coverage on Discover Financial Services in a research report on Wednesday. They set a “hold” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $131.33.

Discover Financial Services Company 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.