National Bank of Canada FI Sells 19,944 Shares of Discover Financial Services (NYSE:DFS)

National Bank of Canada FI trimmed its position in Discover Financial Services (NYSE:DFS) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,927 shares of the financial services provider’s stock after selling 19,944 shares during the period. National Bank of Canada FI owned approximately 0.15% of Discover Financial Services worth $54,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DFS. Elser Financial Planning Inc bought a new stake in Discover Financial Services in the 2nd quarter valued at about $91,044,000. FMR LLC increased its position in Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Samlyn Capital LLC increased its position in Discover Financial Services by 368.0% in the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after buying an additional 508,504 shares in the last quarter. Mizuho Securities USA LLC increased its position in Discover Financial Services by 1,272.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after buying an additional 245,829 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Discover Financial Services by 67.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock valued at $62,606,000 after buying an additional 192,142 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $179.22 on Friday. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $188.26. The stock’s 50 day moving average price is $160.69 and its 200-day moving average price is $141.63. The company has a market capitalization of $45.00 billion, a PE ratio of 14.46, a PEG ratio of 1.13 and a beta of 1.45. 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 announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter in the previous year, the business earned $2.59 EPS. On average, equities analysts anticipate that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were issued a $0.70 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.56%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DFS. 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 research report on Friday, October 18th. Evercore ISI lifted their price target on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.33.

Discover Financial Services 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; 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.