Daiwa Securities Group Inc. Increases Stock Position in Discover Financial Services (NYSE:DFS)

Daiwa Securities Group Inc. increased its holdings in Discover Financial Services (NYSE:DFS) by 27.4% in the 3rd quarter, Holdings Channel reports. The fund owned 34,900 shares of the financial services provider’s stock after buying an additional 7,505 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Discover Financial Services were worth $4,896,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DFS. Eagle Bluffs Wealth Management LLC boosted its stake in Discover Financial Services by 0.5% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock worth $2,034,000 after acquiring an additional 67 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Discover Financial Services by 27.4% during the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 68 shares during the last quarter. Inlet Private Wealth LLC boosted its position in shares of Discover Financial Services by 2.4% in the 3rd quarter. Inlet Private Wealth LLC now owns 3,185 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 75 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Discover Financial Services by 0.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,664 shares of the financial services provider’s stock worth $2,478,000 after buying an additional 75 shares during the last quarter. Finally, J.Safra Asset Management Corp increased its position in Discover Financial Services by 24.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after buying an additional 76 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Stock Down 0.0 %

Discover Financial Services stock opened at $182.59 on Wednesday. The stock has a market cap of $45.84 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The stock has a fifty day moving average of $154.16 and a 200 day moving average of $138.66. Discover Financial Services has a one year low of $85.19 and a one year high of $188.26.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.41. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same quarter in the prior year, the business earned $2.59 EPS. As a group, sell-side analysts predict that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders 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 yield of 1.53%. Discover Financial Services’s payout ratio is presently 22.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada lifted their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Finally, Evercore ISI increased their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. 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.com, Discover Financial Services has an average rating of “Hold” and a consensus price target of $138.81.

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.