Discover Financial Services (NYSE:DFS) Short Interest Down 21.5% in November

Discover Financial Services (NYSE:DFS) saw a significant decline in short interest in November. As of November 15th, there was short interest totalling 3,350,000 shares, a decline of 21.5% from the October 31st total of 4,270,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the short-interest ratio is presently 2.1 days. Currently, 1.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Discover Financial Services

Several institutional investors have recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. increased its stake in Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services during the 3rd quarter worth $30,000. Y.D. More Investments Ltd lifted its holdings in shares of Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 95 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 1.3 %

Shares of Discover Financial Services stock traded down $2.32 during trading on Monday, hitting $180.11. 1,069,779 shares of the stock were exchanged, compared to its average volume of 1,673,356. Discover Financial Services has a 12-month low of $93.83 and a 12-month high of $188.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. The stock has a market cap of $45.22 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.16 and a beta of 1.41. The firm’s 50-day moving average price is $156.66 and its 200 day moving average price is $139.87.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating 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 net margin of 13.78% and a return on equity of 21.38%. During the same period last year, the firm posted $2.59 EPS. As a group, analysts forecast that Discover Financial Services will post 13.34 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.55%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s payout ratio is currently 22.60%.

Analysts Set New Price Targets

Several analysts have recently commented on DFS shares. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Evercore ISI upped their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of 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, Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $138.81.

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; 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.