Discover Financial Services (NYSE:DFS) Holdings Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Discover Financial Services (NYSE:DFS) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,918 shares of the financial services provider’s stock after selling 683 shares during the period. Mutual of America Capital Management LLC’s holdings in Discover Financial Services were worth $4,337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DFS. Eagle Bluffs Wealth Management LLC grew its stake in Discover Financial Services by 0.5% in the third quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock valued at $2,034,000 after purchasing an additional 67 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares in the last quarter. Inlet Private Wealth LLC increased its holdings in Discover Financial Services by 2.4% in the third quarter. Inlet Private Wealth LLC now owns 3,185 shares of the financial services provider’s stock worth $447,000 after buying an additional 75 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Discover Financial Services by 0.4% during the third quarter. First Trust Direct Indexing L.P. now owns 17,664 shares of the financial services provider’s stock valued at $2,478,000 after acquiring an additional 75 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its stake in Discover Financial Services by 24.4% in the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 76 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

NYSE:DFS opened at $175.01 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. Discover Financial Services has a one year low of $85.19 and a one year high of $188.26. The company has a fifty day moving average price of $151.33 and a 200 day moving average price of $137.26. The stock has a market cap of $43.94 billion, a P/E ratio of 14.12, a PEG ratio of 1.10 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data 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. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the business earned $2.59 earnings per share. Analysts anticipate that Discover Financial Services will post 13.34 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s payout ratio is presently 22.60%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DFS shares. Royal Bank of Canada increased 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. Wells Fargo & Company increased their target price 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. Evercore ISI boosted their price target 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. Finally, StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $138.81.

About Discover Financial Services

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.