Discover Financial Services (NYSE:DFS) Shares Bought by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC lifted its stake in Discover Financial Services (NYSE:DFS) by 92.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,814 shares of the financial services provider’s stock after buying an additional 2,307 shares during the period. Schrum Private Wealth Management LLC’s holdings in Discover Financial Services were worth $675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Elser Financial Planning Inc acquired a new position in Discover Financial Services during the second quarter worth approximately $91,044,000. Magnetar Financial LLC acquired a new stake in Discover Financial Services during the 1st quarter worth $71,693,000. Samlyn Capital LLC grew its position in Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock worth $84,594,000 after purchasing an additional 508,504 shares during the last quarter. M&G Plc acquired a new position in Discover Financial Services in the first quarter valued at $62,829,000. Finally, National Bank of Canada FI raised its holdings in shares of Discover Financial Services by 430.5% in the first quarter. National Bank of Canada FI now owns 443,707 shares of the financial services provider’s stock valued at $54,752,000 after buying an additional 360,074 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DFS shares. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. BMO Capital Markets upped their price objective on shares of 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. Finally, Barclays lifted their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $138.81.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock traded down $0.33 on Wednesday, hitting $177.44. The company’s stock had a trading volume of 306,755 shares, compared to its average volume of 1,674,401. The company has a market capitalization of $44.55 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41. Discover Financial Services has a 52-week low of $84.00 and a 52-week high of $188.26. The firm has a fifty day moving average price of $145.33 and a 200-day moving average price of $135.04. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the business earned $2.59 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 13.22 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a $0.70 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.58%. Discover Financial Services’s dividend payout ratio is currently 22.60%.

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; 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.