Daiwa Securities Group Inc. Grows Holdings in Discover Financial Services (NYSE:DFS)

Daiwa Securities Group Inc. raised its stake in Discover Financial Services (NYSE:DFS) by 27.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,900 shares of the financial services provider’s stock after buying an additional 7,505 shares during the period. Daiwa Securities Group Inc.’s holdings in Discover Financial Services were worth $4,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DFS. Opal Wealth Advisors LLC bought a new position in Discover Financial Services in the second quarter valued at $26,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of 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 worth $26,000 after purchasing an additional 157 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $182.59 on Wednesday. The business has a 50 day moving average of $154.16 and a 200 day moving average of $138.66. Discover Financial Services has a 52 week low of $85.19 and a 52 week high of $188.26. The company has a market cap of $45.84 billion, a PE ratio of 14.74, a P/E/G ratio of 1.14 and a beta of 1.41. 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 issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates 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 in the prior year, the business earned $2.59 EPS. As a group, equities research analysts forecast that Discover Financial Services will post 13.34 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.53%. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

Analyst Ratings Changes

A number of brokerages have commented on DFS. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI lifted their target price on shares of 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 boosted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company raised their price objective on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.