Cambridge Investment Research Advisors Inc. Has $2.01 Million Position in Discover Financial Services (NYSE:DFS)

Cambridge Investment Research Advisors Inc. grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,689 shares of the financial services provider’s stock after acquiring an additional 575 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Discover Financial Services were worth $2,009,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DFS. Vista Investment Management boosted its position in shares of Discover Financial Services by 1.2% during the 3rd quarter. Vista Investment Management now owns 11,978 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 146 shares in the last quarter. Smithfield Trust Co. boosted its position in shares of Discover Financial Services by 22.1% during the 3rd quarter. Smithfield Trust Co. now owns 830 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 150 shares in the last quarter. First Allied Advisory Services Inc. boosted its position in shares of Discover Financial Services by 1.9% during the 3rd quarter. First Allied Advisory Services Inc. now owns 8,302 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 151 shares in the last quarter. Usca Ria LLC boosted its position in shares of Discover Financial Services by 0.4% during the 3rd quarter. Usca Ria LLC now owns 36,942 shares of the financial services provider’s stock worth $2,996,000 after purchasing an additional 155 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Discover Financial Services by 4.5% during the 3rd quarter. Signaturefd LLC now owns 3,632 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Shares of NYSE DFS opened at $76.42 on Friday. Discover Financial Services has a fifty-two week low of $69.11 and a fifty-two week high of $92.98. The stock has a market cap of $23.89 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.40 and a beta of 1.56. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.08. The firm’s 50-day simple moving average is $80.49 and its 200 day simple moving average is $82.07.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $2.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.01. The firm had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.94 billion. Discover Financial Services had a net margin of 20.94% and a return on equity of 26.25%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $2.03 EPS. On average, sell-side analysts predict that Discover Financial Services will post 9.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 20th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.76 annualized dividend and a yield of 2.30%. Discover Financial Services’s dividend payout ratio (DPR) is 19.38%.

A number of research firms have recently issued reports on DFS. Credit Suisse Group increased their price objective on shares of Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets reaffirmed an “in-line” rating and issued a $84.00 price target on shares of Discover Financial Services in a research report on Monday, January 27th. They noted that the move was a valuation call. Nomura reaffirmed a “hold” rating and issued a $89.00 price target on shares of Discover Financial Services in a research report on Monday, January 27th. Piper Sandler cut shares of Discover Financial Services from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $96.00 to $86.00 in a research report on Friday, January 24th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Discover Financial Services in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $87.00.

In other news, CFO John Greene acquired 3,377 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was purchased at an average price of $73.84 per share, for a total transaction of $249,357.68. Following the purchase, the chief financial officer now owns 27,502 shares in the company, valued at approximately $2,030,747.68. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Roger C. Hochschild acquired 15,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was purchased at an average price of $74.12 per share, with a total value of $1,111,800.00. Following the purchase, the chief executive officer now owns 849,085 shares in the company, valued at approximately $62,934,180.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 21,777 shares of company stock valued at $1,612,588. Company insiders own 0.81% of the company’s stock.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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