Dynamic Technology Lab Private Ltd Invests $587,000 in Discover Financial Services (NYSE:DFS)

Dynamic Technology Lab Private Ltd purchased a new stake in Discover Financial Services (NYSE:DFS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,184 shares of the financial services provider’s stock, valued at approximately $587,000.

A number of other hedge funds have also recently bought and sold shares of the business. Daiwa Securities Group Inc. raised its position in shares of Discover Financial Services by 27.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 34,900 shares of the financial services provider’s stock valued at $4,896,000 after purchasing an additional 7,505 shares in the last quarter. Round Hill Asset Management raised its holdings in Discover Financial Services by 0.4% in the third quarter. Round Hill Asset Management now owns 24,018 shares of the financial services provider’s stock valued at $3,369,000 after acquiring an additional 100 shares in the last quarter. Larson Financial Group LLC boosted its stake in Discover Financial Services by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 386 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 135 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in Discover Financial Services by 7.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 1,664 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 119 shares in the last quarter. Finally, Camden National Bank bought a new stake in shares of Discover Financial Services in the 3rd quarter worth about $277,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Down 0.0 %

Discover Financial Services stock opened at $182.56 on Friday. The company has a 50 day moving average price of $155.86 and a 200 day moving average price of $139.27. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. Discover Financial Services has a 52 week low of $85.37 and a 52 week high of $188.26. The firm has a market capitalization of $45.84 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.17 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $2.59 earnings per share. Research analysts forecast that Discover Financial Services will post 13.34 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.53%. 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 analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada raised their price objective on 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, Evercore ISI boosted their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $138.81.

Discover Financial Services 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.