Birch Capital Management LLC Trims Stake in Discover Financial Services (NYSE:DFS)

Birch Capital Management LLC trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,002 shares of the financial services provider’s stock after selling 1,029 shares during the quarter. Birch Capital Management LLC’s holdings in Discover Financial Services were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its position in Discover Financial Services by 335.4% during the fourth quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after buying an additional 49,145 shares in the last quarter. D.A. Davidson & CO. grew its position in Discover Financial Services by 238.7% during the fourth quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock worth $1,662,000 after buying an additional 10,418 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Discover Financial Services by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after purchasing an additional 16,532 shares during the last quarter. Principal Securities Inc. bought a new stake in Discover Financial Services during the fourth quarter worth about $1,073,000. Finally, Vest Financial LLC lifted its stake in Discover Financial Services by 18.8% during the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after purchasing an additional 19,283 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Trading Down 0.6 %

DFS traded down $0.81 during midday trading on Friday, reaching $126.97. 1,663,602 shares of the company’s stock traded hands, compared to its average volume of 1,107,088. The firm has a fifty day moving average of $124.34 and a two-hundred day moving average of $118.04. The stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 0.78 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $131.65.

Discover Financial Services (NYSE:DFSGet Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter last year, the company posted $3.58 EPS. On average, equities analysts anticipate that Discover Financial Services will post 11.46 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.70 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.21%. Discover Financial Services’s payout ratio is currently 31.93%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Barclays lifted their price target on Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. StockNews.com began coverage on Discover Financial Services in a research note on Friday. They set a “hold” rating for the company. Seaport Res Ptn lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, BTIG Research began coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $126.29.

Get Our Latest Research Report on Discover Financial Services

Discover Financial Services Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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