OLD National Bancorp IN Sells 2,975 Shares of Discover Financial Services (NYSE:DFS)

OLD National Bancorp IN lowered its stake in Discover Financial Services (NYSE:DFS) by 50.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,872 shares of the financial services provider’s stock after selling 2,975 shares during the quarter. OLD National Bancorp IN’s holdings in Discover Financial Services were worth $376,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Valeo Financial Advisors LLC raised its position in shares of Discover Financial Services by 5.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,635 shares of the financial services provider’s stock valued at $345,000 after buying an additional 126 shares in the last quarter. CWM LLC boosted its holdings in shares of Discover Financial Services by 3.6% in the second quarter. CWM LLC now owns 9,751 shares of the financial services provider’s stock valued at $1,276,000 after purchasing an additional 340 shares during the period. AMF Tjanstepension AB purchased a new stake in shares of Discover Financial Services in the 2nd quarter worth $8,328,000. Astoria Portfolio Advisors LLC. grew its holdings in Discover Financial Services by 19.1% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 2,626 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 422 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Discover Financial Services by 26.7% during the second quarter. Versant Capital Management Inc now owns 593 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 125 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 1.0 %

Shares of DFS stock traded up $1.29 on Friday, hitting $126.39. 630,881 shares of the stock traded hands, compared to its average volume of 1,776,409. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50-day moving average price is $130.74 and its two-hundred day moving average price is $124.05. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The stock has a market capitalization of $31.70 billion, a PE ratio of 14.41, a PEG ratio of 0.90 and a beta of 1.43.

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

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.22%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Analysts Set New Price Targets

DFS has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Jefferies Financial Group upped their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Royal Bank of Canada raised their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, July 19th. StockNews.com initiated coverage on Discover Financial Services in a research report on Thursday. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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.