GUNN & Co INVESTMENT MANAGEMENT INC. Cuts Stock Position in Discover Financial Services (NYSE:DFS)

GUNN & Co INVESTMENT MANAGEMENT INC. lessened its holdings in Discover Financial Services (NYSE:DFS) by 91.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,245 shares of the financial services provider’s stock after selling 46,883 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Discover Financial Services were worth $596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DFS. Riverview Trust Co bought a new position in shares of Discover Financial Services during the 1st quarter valued at about $34,000. Aspiriant LLC bought a new position in shares of Discover Financial Services in the 1st quarter valued at about $214,000. Atlantic Union Bankshares Corp lifted its holdings in shares of Discover Financial Services by 10.9% in the 1st quarter. Atlantic Union Bankshares Corp now owns 16,653 shares of the financial services provider’s stock valued at $2,183,000 after acquiring an additional 1,641 shares during the last quarter. Trust Co. of Virginia VA bought a new position in shares of Discover Financial Services in the 1st quarter valued at about $223,000. Finally, Vicus Capital bought a new position in shares of Discover Financial Services in the 1st quarter valued at about $224,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $145.16 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The company has a market cap of $36.40 billion, a PE ratio of 16.55, a P/E/G ratio of 0.94 and a beta of 1.41. The business has a 50-day simple moving average of $138.26 and a two-hundred day simple moving average of $131.46. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $152.90.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the business posted $2.59 EPS. As a group, equities analysts expect that Discover Financial Services will post 13.15 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s payout ratio is 31.93%.

Wall Street Analysts Forecast Growth

DFS has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada increased 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. Keefe, Bruyette & Woods increased their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Finally, BMO Capital Markets increased their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $136.12.

Discover Financial Services 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; 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.