Patron Partners LLC Lowers Stock Holdings in Discover Financial Services (NYSE:DFS)

Patron Partners LLC cut its holdings in Discover Financial Services (NYSE:DFS) by 2.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,299 shares of the financial services provider’s stock after selling 107 shares during the quarter. Patron Partners LLC’s holdings in Discover Financial Services were worth $603,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Eagle Bluffs Wealth Management LLC raised its stake in Discover Financial Services by 0.5% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock valued at $2,034,000 after purchasing an additional 67 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares in the last quarter. Inlet Private Wealth LLC increased its position in Discover Financial Services by 2.4% during the third quarter. Inlet Private Wealth LLC now owns 3,185 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 75 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Discover Financial Services by 0.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,664 shares of the financial services provider’s stock valued at $2,478,000 after buying an additional 75 shares during the period. Finally, J.Safra Asset Management Corp raised its position in Discover Financial Services by 24.4% in the second quarter. J.Safra Asset Management Corp now owns 387 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 76 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Up 3.6 %

Discover Financial Services stock opened at $181.40 on Tuesday. The company has a market capitalization of $45.54 billion, a P/E ratio of 14.64, a PEG ratio of 1.13 and a beta of 1.41. Discover Financial Services has a fifty-two week low of $82.68 and a fifty-two week high of $188.26. The stock has a 50-day simple moving average of $143.69 and a 200-day simple moving average of $134.29. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08.

Discover Financial Services (NYSE:DFS) last announced its 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. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period last year, the firm posted $2.59 earnings per share. Equities research analysts expect that Discover Financial Services will post 13.22 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders 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 annualized dividend and a dividend yield of 1.54%. Discover Financial Services’s dividend payout ratio (DPR) is 22.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DFS shares. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company increased 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. Royal Bank of Canada boosted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. BMO Capital Markets upped their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Finally, Barclays lifted their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.81.

Discover Financial Services Company 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.