Courier Capital LLC cut its stake in shares of Discover Financial Services (NYSE:DFS) by 21.2% during the fourth quarter, Holdings Channel reports. The fund owned 4,434 shares of the financial services provider’s stock after selling 1,196 shares during the period. Courier Capital LLC’s holdings in Discover Financial Services were worth $320,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Discover Financial Services during the third quarter valued at about $1,753,000. Strs Ohio boosted its stake in shares of Discover Financial Services by 2.7% in the third quarter. Strs Ohio now owns 1,452,623 shares of the financial services provider’s stock valued at $82,145,000 after buying an additional 37,658 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Discover Financial Services by 1.0% in the second quarter. Sterling Capital Management LLC now owns 2,065,087 shares of the financial services provider’s stock valued at $110,668,000 after buying an additional 20,830 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Discover Financial Services by 0.3% in the third quarter. BB&T Securities LLC now owns 966,205 shares of the financial services provider’s stock valued at $54,638,000 after buying an additional 3,038 shares during the last quarter. Finally, Affinity Investment Advisors LLC bought a new stake in shares of Discover Financial Services during the second quarter valued at about $17,351,000. Institutional investors own 85.54% of the company’s stock.
Discover Financial Services (NYSE:DFS) traded up 1.16% during mid-day trading on Monday, reaching $69.62. The company’s stock had a trading volume of 537,843 shares. The stock has a market capitalization of $27.08 billion, a price-to-earnings ratio of 12.07 and a beta of 1.42. Discover Financial Services has a 52 week low of $43.47 and a 52 week high of $74.33. The firm has a 50-day moving average of $70.53 and a 200-day moving average of $62.92.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 23rd. Stockholders of record on Thursday, February 9th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, February 7th. Discover Financial Services’s dividend payout ratio is currently 20.76%.
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DFS has been the topic of several recent analyst reports. Bank of America Corporation raised Discover Financial Services from a “neutral” rating to a “buy” rating in a research note on Thursday, December 15th. Wedbush raised Discover Financial Services from a “neutral” rating to an “outperform” rating and upped their price target for the company from $72.00 to $78.00 in a research note on Wednesday, December 7th. Sandler O’Neill set a $79.00 price target on Discover Financial Services and gave the company a “buy” rating in a research note on Wednesday, January 25th. Stephens initiated coverage on Discover Financial Services in a research note on Friday, November 18th. They issued an “underweight” rating and a $62.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Discover Financial Services in a research note on Friday, October 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.00.
In other Discover Financial Services news, EVP Julie A. Loeger sold 3,871 shares of the business’s stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $68.94, for a total transaction of $266,866.74. Following the completion of the sale, the executive vice president now owns 24,414 shares of the company’s stock, valued at $1,683,101.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James V. Panzarino sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $68.06, for a total value of $340,300.00. Following the sale, the executive vice president now directly owns 89,006 shares of the company’s stock, valued at approximately $6,057,748.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,871 shares of company stock valued at $3,019,467. Company insiders own 1.07% of the company’s stock.
About Discover Financial Services
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.
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