Kerusso Capital Management LLC Invests $3.75 Million in Discover Financial Services (NYSE:DFS)

Kerusso Capital Management LLC acquired a new stake in Discover Financial Services (NYSE:DFS) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,650 shares of the financial services provider’s stock, valued at approximately $3,748,000. Discover Financial Services comprises 2.7% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 7th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the second quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. grew its stake in Discover Financial Services by 72.5% in 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 buying an additional 95 shares in the last quarter. Partnership Wealth Management LLC bought a new stake in Discover Financial Services during the 4th quarter valued at $25,000. Larson Financial Group LLC lifted its position in shares of Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 195 shares in the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Discover Financial Services in the first quarter valued at $34,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $128.68 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. The stock has a market cap of $32.27 billion, a PE ratio of 14.67, a PEG ratio of 0.96 and a beta of 1.42. The company’s fifty day moving average is $134.05 and its 200 day moving average is $127.69. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share 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 during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the firm posted $3.54 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Research analysts anticipate that Discover Financial Services will post 12.75 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.18%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Analysts Set New Price Targets

Several research analysts have commented on the company. BMO Capital Markets raised their target price on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. BTIG Research assumed coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating for the company. Royal Bank of Canada increased their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. Jefferies Financial Group upped their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, StockNews.com started coverage on Discover Financial Services in a research note on Sunday, September 1st. They set a “hold” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $132.94.

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.