BTC Capital Management Inc. raised its holdings in shares of Discover Financial Services (NYSE:DFS) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,661 shares of the financial services provider’s stock after acquiring an additional 2,418 shares during the quarter. BTC Capital Management Inc.’s holdings in Discover Financial Services were worth $3,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. GM Advisory Group Inc. grew its stake in shares of Discover Financial Services by 0.3% during the 2nd quarter. GM Advisory Group Inc. now owns 5,304 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 17 shares in the last quarter. South State Corp grew its stake in shares of Discover Financial Services by 0.7% during the 2nd quarter. South State Corp now owns 3,457 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 25 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Discover Financial Services by 0.4% during the 2nd quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock worth $445,000 after acquiring an additional 27 shares in the last quarter. First Bank & Trust grew its stake in shares of Discover Financial Services by 1.4% during the 2nd quarter. First Bank & Trust now owns 3,135 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 42 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Discover Financial Services by 0.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 7,339 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 57 shares in the last quarter. 88.02% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on DFS shares. Zacks Investment Research raised Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Morgan Stanley cut their price objective on Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, September 8th. BMO Capital Markets cut their price objective on Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating for the company in a report on Wednesday, October 25th. William Blair reissued an “outperform” rating on shares of Discover Financial Services in a report on Tuesday, July 18th. Finally, Bank of America Corporation increased their price objective on Discover Financial Services from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $74.45.

In related news, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.79, for a total value of $1,019,081.82. Following the transaction, the chief operating officer now owns 769,440 shares in the company, valued at $51,390,897.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $59.10, for a total value of $1,773,000.00. Following the completion of the transaction, the chief executive officer now owns 1,529,912 shares in the company, valued at approximately $90,417,799.20. The disclosure for this sale can be found here. Insiders sold 172,277 shares of company stock worth $11,020,650 in the last 90 days. 0.96% of the stock is owned by company insiders.

Shares of Discover Financial Services (NYSE DFS) traded down $0.71 during midday trading on Monday, hitting $64.76. The company had a trading volume of 1,630,800 shares, compared to its average volume of 2,670,307. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $74.33. The company has a market capitalization of $23,520.00, a PE ratio of 11.13, a P/E/G ratio of 1.71 and a beta of 1.51.

Discover Financial Services declared that its Board of Directors has approved a share buyback program on Tuesday, July 25th that authorizes the company to repurchase $2.75 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 11.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 21st. Discover Financial Services’s payout ratio is currently 24.10%.

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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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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