Crossmark Global Holdings Inc. Acquires 19,437 Shares of Discover Financial Services (NYSE:DFS)

Crossmark Global Holdings Inc. increased its holdings in Discover Financial Services (NYSE:DFS) by 96.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,532 shares of the financial services provider’s stock after purchasing an additional 19,437 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Discover Financial Services were worth $5,171,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Boston Partners grew its stake in shares of Discover Financial Services by 5.5% in the fourth quarter. Boston Partners now owns 9,072,829 shares of the financial services provider’s stock worth $1,017,046,000 after purchasing an additional 475,579 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Discover Financial Services by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,655,558 shares of the financial services provider’s stock worth $410,891,000 after purchasing an additional 217,475 shares during the last quarter. Norges Bank bought a new stake in shares of Discover Financial Services in the fourth quarter worth $322,199,000. Brave Warrior Advisors LLC grew its stake in shares of Discover Financial Services by 10.6% in the fourth quarter. Brave Warrior Advisors LLC now owns 2,633,167 shares of the financial services provider’s stock worth $295,968,000 after purchasing an additional 251,909 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of 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 worth $238,605,000 after purchasing an additional 803,738 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 0.8 %

NYSE DFS traded up $1.13 during trading hours on Friday, hitting $138.71. The company’s stock had a trading volume of 1,386,509 shares, compared to its average volume of 1,711,794. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61. The company has a market capitalization of $34.79 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.28. The company’s 50-day simple moving average is $133.04 and its two-hundred day simple moving average is $126.61.

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

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be paid a $0.70 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 annualized dividend and a yield of 2.02%. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank of Canada boosted their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Jefferies Financial Group boosted their target price 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. BTIG Research assumed coverage on shares of Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Barclays boosted their target price on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their target price 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. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus target price of $132.94.

About Discover Financial Services

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.