Cumberland Partners Ltd Has $2.10 Million Stake in Discover Financial Services (NYSE:DFS)

Cumberland Partners Ltd reduced its stake in shares of Discover Financial Services (NYSE:DFS) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,636 shares of the financial services provider’s stock after selling 665 shares during the period. Cumberland Partners Ltd’s holdings in Discover Financial Services were worth $2,095,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DFS. CWM LLC boosted its holdings in Discover Financial Services by 5.2% during the third quarter. CWM LLC now owns 9,609 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 474 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Discover Financial Services by 10.6% during the third quarter. AE Wealth Management LLC now owns 12,163 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 1,165 shares during the last quarter. RFG Advisory LLC lifted its holdings in shares of Discover Financial Services by 4.1% during the third quarter. RFG Advisory LLC now owns 6,845 shares of the financial services provider’s stock worth $593,000 after buying an additional 271 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Discover Financial Services during the third quarter worth approximately $500,000. Finally, Ziegler Capital Management LLC lifted its holdings in shares of Discover Financial Services by 61.6% during the third quarter. Ziegler Capital Management LLC now owns 15,392 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 5,869 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $106.51, for a total value of $3,748,193.41. Following the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is owned by insiders.

Discover Financial Services Trading Up 2.1 %

DFS stock traded up $2.62 during midday trading on Tuesday, reaching $129.30. The stock had a trading volume of 1,883,250 shares, compared to its average volume of 2,230,380. The firm has a market cap of $32.40 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.76 and a beta of 1.45. The business has a fifty day simple moving average of $122.76 and a two-hundred day simple moving average of $106.72. The company has a quick ratio of 1.13, a current ratio of 1.05 and a debt-to-equity ratio of 1.49. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $131.65.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. During the same period last year, the firm earned $3.58 EPS. As a group, research analysts expect that Discover Financial Services will post 11.34 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s payout ratio is presently 31.93%.

Analyst Upgrades and Downgrades

DFS has been the subject of a number of research analyst reports. Morgan Stanley upgraded Discover Financial Services from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. Evercore ISI upped their target price on Discover Financial Services from $117.00 to $140.00 and gave the company an “in-line” rating in a research note on Thursday, February 22nd. Wolfe Research restated a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. The Goldman Sachs Group cut their target price on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Finally, BMO Capital Markets cut their target price on Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $126.29.

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; 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.