Salem Investment Counselors Inc. boosted its stake in Discover Financial Services (NYSE:DFS) by 31.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,294 shares of the financial services provider’s stock after purchasing an additional 15,348 shares during the period. Salem Investment Counselors Inc.’s holdings in Discover Financial Services were worth $4,181,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Grove Bank & Trust grew its position in Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,490 shares during the period. Rational Advisors LLC bought a new stake in Discover Financial Services in the 3rd quarter worth approximately $123,000. Americafirst Capital Management LLC bought a new stake in Discover Financial Services in the 3rd quarter worth approximately $140,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in Discover Financial Services in the 2nd quarter worth approximately $157,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in Discover Financial Services in the 2nd quarter worth approximately $170,000. 84.99% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on DFS shares. ValuEngine downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Wells Fargo & Company started coverage on shares of Discover Financial Services in a research report on Tuesday, October 10th. They set a “market perform” rating and a $69.00 price objective for the company. Zacks Investment Research raised shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Buckingham Research started coverage on shares of Discover Financial Services in a research report on Monday, October 2nd. They set a “buy” rating and a $74.00 price objective for the company. Finally, Bank of America boosted their price objective on shares of Discover Financial Services from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $76.26.
In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $64.55, for a total value of $1,936,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.51, for a total transaction of $516,080.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,277 shares of company stock worth $12,335,343. Corporate insiders own 0.96% of the company’s stock.
Shares of Discover Financial Services (NYSE DFS) opened at $73.82 on Thursday. The company has a market cap of $27,286.25, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.98 and a beta of 1.53. Discover Financial Services has a one year low of $57.50 and a one year high of $75.51. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Tuesday, November 21st. Discover Financial Services’s payout ratio is currently 24.05%.
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Discover Financial Services Company Profile
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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