Discover Financial Services (NYSE:DFS) Shares Acquired by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its holdings in shares of Discover Financial Services (NYSE:DFS) by 35.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,154 shares of the financial services provider’s stock after purchasing an additional 300 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Discover Financial Services were worth $151,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Partnership Wealth Management LLC acquired a new position in shares of Discover Financial Services in the fourth quarter valued at $25,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of Discover Financial Services during the fourth quarter valued at about $31,000. Riverview Trust Co acquired a new stake in shares of Discover Financial Services in the 1st quarter worth about $34,000. New Covenant Trust Company N.A. acquired a new stake in shares of Discover Financial Services in the 1st quarter worth about $34,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter worth about $35,000. 86.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DFS has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. BTIG Research began coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. BMO Capital Markets increased their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Jefferies Financial Group raised their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $131.33.

Discover Financial Services Trading Down 4.3 %

NYSE:DFS traded down $5.55 on Monday, reaching $123.54. The company’s stock had a trading volume of 1,109,266 shares, compared to its average volume of 1,797,008. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $30.98 billion, a PE ratio of 14.26, a PEG ratio of 0.90 and a beta of 1.43. The business’s 50-day moving average price is $130.48 and its two-hundred day moving average price is $123.47. Discover Financial Services has a 1-year low of $79.04 and a 1-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 company 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 20.92% and a net margin of 12.88%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.54 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 12.23 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. 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 2.27%. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

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; 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.