ETRADE Capital Management LLC Lowers Stake in Discover Financial Services (DFS)

ETRADE Capital Management LLC decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 21.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,875 shares of the financial services provider’s stock after selling 1,932 shares during the period. ETRADE Capital Management LLC’s holdings in Discover Financial Services were worth $495,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DFS. Focused Wealth Management Inc bought a new stake in shares of Discover Financial Services during the fourth quarter worth $177,000. Equity Investment Corp bought a new stake in shares of Discover Financial Services during the fourth quarter worth $205,000. Hunter Associates Investment Management LLC bought a new stake in shares of Discover Financial Services during the fourth quarter worth $215,000. Newman Dignan & Sheerar Inc. bought a new stake in shares of Discover Financial Services during the fourth quarter worth $217,000. Finally, FineMark National Bank & Trust bought a new stake in shares of Discover Financial Services during the fourth quarter worth $220,000. 86.43% of the stock is owned by institutional investors.

DFS has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Wells Fargo increased their price objective on shares of Discover Financial Services from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Credit Suisse Group increased their price objective on shares of Discover Financial Services from $91.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Morgan Stanley increased their price objective on shares of Discover Financial Services from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase lowered their price objective on shares of Discover Financial Services from $82.50 to $82.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Discover Financial Services presently has an average rating of “Buy” and an average price target of $85.43.

Shares of DFS stock opened at $77.23 on Monday. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.95 and a beta of 1.47. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 2.55. Discover Financial Services has a one year low of $57.50 and a one year high of $81.93.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.05. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Discover Financial Services had a net margin of 18.43% and a return on equity of 22.79%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. equities research analysts predict that Discover Financial Services will post 7.67 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 7th. Shareholders of record on Thursday, May 24th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 23.41%.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $78.66, for a total value of $2,359,800.00. Following the completion of the sale, the chief executive officer now owns 1,390,449 shares in the company, valued at $109,372,718.34. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Carlos Minetti sold 3,750 shares of the stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $71.09, for a total transaction of $266,587.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,266 shares of company stock valued at $11,823,080. Corporate insiders own 0.81% of the company’s stock.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFS).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply