SeaCrest Wealth Management LLC Sells 890 Shares of Discover Financial Services (NYSE:DFS)

SeaCrest Wealth Management LLC lessened its position in Discover Financial Services (NYSE:DFS) by 23.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,827 shares of the financial services provider’s stock after selling 890 shares during the period. SeaCrest Wealth Management LLC’s holdings in Discover Financial Services were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services during the 2nd quarter valued at about $26,000. Y.D. More Investments Ltd grew its position 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 buying an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Discover Financial Services by 72.5% during 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 buying an additional 95 shares during the period. Larson Financial Group LLC raised its holdings in shares of Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 195 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Discover Financial Services in the first quarter valued at $34,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of DFS opened at $150.53 on Friday. The company has a market capitalization of $37.75 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $152.90. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average of $136.63 and a 200 day moving average of $130.89.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results 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. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the business earned $2.59 earnings per share. As a group, equities research analysts anticipate that Discover Financial Services will post 13.15 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s payout ratio is presently 31.93%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Barclays lifted their price objective on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Royal Bank of Canada increased their target price on Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. BMO Capital Markets lifted their price target on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group increased their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $133.88.

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.