Phase 2 Partners LLC Sells 20,785 Shares of Discover Financial Services (NYSE:DFS)

Phase 2 Partners LLC decreased its stake in Discover Financial Services (NYSE:DFS) by 31.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 45,875 shares of the financial services provider’s stock after selling 20,785 shares during the quarter. Discover Financial Services makes up 3.8% of Phase 2 Partners LLC’s holdings, making the stock its 9th largest holding. Phase 2 Partners LLC’s holdings in Discover Financial Services were worth $6,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service lifted its holdings in Discover Financial Services by 14.8% during the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock worth $61,693,000 after purchasing an additional 56,814 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new stake in Discover Financial Services in the second quarter valued at approximately $4,835,000. Janney Montgomery Scott LLC bought a new position in Discover Financial Services in the third quarter valued at about $2,415,000. Versor Investments LP boosted its position in Discover Financial Services by 21.5% during the 3rd quarter. Versor Investments LP now owns 75,963 shares of the financial services provider’s stock worth $10,657,000 after buying an additional 13,427 shares during the period. Finally, Raymond James & Associates raised its position in Discover Financial Services by 12.7% during the 3rd quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider’s stock worth $20,954,000 after purchasing an additional 16,863 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on 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. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada increased their price objective on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on 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. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $138.81.

Discover Financial Services Stock Down 1.0 %

Shares of NYSE DFS opened at $178.31 on Wednesday. The company has a market cap of $44.77 billion, a P/E ratio of 14.39, a PEG ratio of 1.15 and a beta of 1.45. Discover Financial Services has a 1 year low of $93.83 and a 1 year high of $188.26. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. The firm has a 50-day simple moving average of $158.30 and a two-hundred day simple moving average of $140.63.

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

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.57%. Discover Financial Services’s dividend payout ratio 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.