Icon Wealth Advisors LLC Raises Position in Discover Financial Services (NYSE:DFS)

Icon Wealth Advisors LLC lifted its stake in Discover Financial Services (NYSE:DFS) by 8.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,837 shares of the financial services provider’s stock after purchasing an additional 219 shares during the period. Icon Wealth Advisors LLC’s holdings in Discover Financial Services were worth $398,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DFS. Opal Wealth Advisors LLC bought a new position in shares of Discover Financial Services in the second quarter worth about $26,000. DiNuzzo Private Wealth Inc. lifted its holdings in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 157 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 95 shares during the period. Finally, Larson Financial Group LLC increased its stake in shares of Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Price Performance

DFS stock opened at $182.43 on Friday. Discover Financial Services has a 52 week low of $89.58 and a 52 week high of $188.26. The firm has a market capitalization of $45.80 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41. The company has a fifty day simple moving average of $156.66 and a two-hundred day simple moving average of $139.67. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28.

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

Discover Financial Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DFS shares. Royal Bank of Canada lifted their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Evercore ISI upped their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus price target of $138.81.

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; 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.