Amalgamated Bank lessened its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 21.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,281 shares of the financial services provider's stock after selling 13,147 shares during the quarter. Amalgamated Bank's holdings in Discover Financial Services were worth $6,914,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in Discover Financial Services during the 2nd quarter valued at about $26,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Discover Financial Services by 506.5% during 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 during the last quarter. Y.D. More Investments Ltd grew its position 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. Whittier Trust Co. of Nevada Inc. increased its holdings 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 purchasing an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in 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 worth $33,000 after buying an additional 195 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:DFS opened at $182.55 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $142.21 and a 200 day moving average price of $133.60. Discover Financial Services has a 52 week low of $82.15 and a 52 week high of $188.26. The company has a market cap of $45.83 billion, a P/E ratio of 14.73, a PEG ratio of 0.97 and a beta of 1.41.
Discover Financial Services (NYSE:DFS - Get Free Report) last posted 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. 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 return on equity of 21.38% and a net margin of 13.78%. During the same period in the previous year, the business earned $2.59 earnings per share. Research analysts predict that Discover Financial Services will post 13.28 earnings per share for the current year.
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 paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.53%. Discover Financial Services's dividend payout ratio (DPR) is presently 22.60%.
DFS has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a "market perform" rating in a report on Friday, July 19th. StockNews.com lowered shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Monday. Evercore ISI boosted 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. JPMorgan Chase & Co. raised their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada boosted their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a "sector perform" rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $138.81.
View Our Latest Stock Analysis on 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.
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