Southpoint Capital Advisors LP Has $210.44 Million Holdings in Discover Financial Services (NYSE:DFS)

Southpoint Capital Advisors LP reduced its position in shares of Discover Financial Services (NYSE:DFS) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,500,000 shares of the financial services provider’s stock after selling 500,000 shares during the quarter. Discover Financial Services accounts for approximately 5.0% of Southpoint Capital Advisors LP’s holdings, making the stock its 5th biggest position. Southpoint Capital Advisors LP’s holdings in Discover Financial Services were worth $210,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Westchester Capital Management LLC purchased a new stake in Discover Financial Services during the third quarter valued at approximately $15,784,000. Atlantic Union Bankshares Corp boosted its position in shares of Discover Financial Services by 12.2% in the third quarter. Atlantic Union Bankshares Corp now owns 26,657 shares of the financial services provider’s stock worth $3,740,000 after purchasing an additional 2,908 shares during the period. Icon Wealth Advisors LLC boosted its position in shares of Discover Financial Services by 8.4% in the third quarter. Icon Wealth Advisors LLC now owns 2,837 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 219 shares during the period. Vinva Investment Management Ltd bought a new position in shares of Discover Financial Services in the third quarter worth approximately $1,559,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Discover Financial Services by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after purchasing an additional 12,255 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company upped their price target 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. Evercore ISI upped their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their target price 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. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $138.81.

Discover Financial Services Stock Down 0.1 %

NYSE:DFS opened at $182.43 on Friday. Discover Financial Services has a fifty-two week low of $89.58 and a fifty-two week high of $188.26. The stock has a market capitalization of $45.80 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.17 and a beta of 1.41. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The company’s 50-day simple moving average is $156.66 and its 200-day simple moving average is $139.67.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the business earned $2.59 EPS. On average, equities analysts anticipate that Discover Financial Services will post 13.34 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

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.