Wesbanco Bank Inc. Has $742,000 Stock Holdings in Discover Financial Services (NYSE:DFS)

Wesbanco Bank Inc. lowered its position in shares of Discover Financial Services (NYSE:DFS) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,673 shares of the financial services provider’s stock after selling 124 shares during the quarter. Wesbanco Bank Inc.’s holdings in Discover Financial Services were worth $742,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $322,199,000. Truist Financial Corp increased its position in shares of Discover Financial Services by 239.6% in the fourth quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock worth $227,912,000 after purchasing an additional 1,430,637 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Discover Financial Services in the fourth quarter worth $121,113,000. Envestnet Asset Management Inc. grew its position in Discover Financial Services by 60.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after acquiring an additional 803,738 shares during the last quarter. Finally, Canoe Financial LP bought a new position in Discover Financial Services in the fourth quarter valued at about $72,265,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $125.01 on Friday. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61. The company has a 50 day simple moving average of $130.67 and a two-hundred day simple moving average of $123.86. The company has a market capitalization of $31.35 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 0.90 and a beta of 1.43. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.12 and a current ratio of 1.12.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $3.00. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $3.54 earnings per share. Analysts expect that Discover Financial Services will post 12.23 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Analyst Upgrades and Downgrades

DFS has been the topic of several research reports. StockNews.com initiated coverage on Discover Financial Services in a report on Thursday. They set a “hold” rating on the stock. Barclays lifted their price objective on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Jefferies Financial Group lifted their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. boosted 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 target on Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and an average price target of $131.33.

Discover Financial Services Company 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; private student loans, 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.