Verition Fund Management LLC lowered its stake in Discover Financial Services (NYSE:DFS) by 51.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,585 shares of the financial services provider’s stock after selling 4,939 shares during the quarter. Verition Fund Management LLC’s holdings in Discover Financial Services were worth $230,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DFS. Bartlett & Co. LLC bought a new position in shares of Discover Financial Services in the first quarter worth about $27,000. Smithfield Trust Co. lifted its holdings in shares of Discover Financial Services by 620.0% in the second quarter. Smithfield Trust Co. now owns 720 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 620 shares during the last quarter. Beese Fulmer Investment Management Inc. bought a new position in shares of Discover Financial Services in the second quarter worth about $38,000. Ameritas Investment Company LLC bought a new position in shares of Discover Financial Services in the first quarter worth about $42,000. Finally, South Dakota Investment Council bought a new position in shares of Discover Financial Services in the first quarter worth about $45,000. 83.95% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:DFS opened at $57.05 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 2.70. The stock’s fifty day simple moving average is $52.88 and its two-hundred day simple moving average is $47.52. Discover Financial Services has a 1-year low of $23.25 and a 1-year high of $87.43. The stock has a market cap of $17.48 billion, a PE ratio of 18.05 and a beta of 1.88.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported ($1.20) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.25). Discover Financial Services had a net margin of 7.65% and a return on equity of 10.45%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.63 billion. On average, sell-side analysts forecast that Discover Financial Services will post 1.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Wednesday, August 19th. Discover Financial Services’s dividend payout ratio (DPR) is presently 19.38%.

Several research firms have recently issued reports on DFS. Wolfe Research began coverage on Discover Financial Services in a research note on Friday, July 31st. They issued an “outperform” rating for the company. ValuEngine raised Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the company from $36.00 to $72.00 in a research note on Monday, June 22nd. Royal Bank of Canada increased their target price on shares of Discover Financial Services from $42.00 to $61.00 in a research report on Wednesday, June 3rd. Finally, BMO Capital Markets increased their target price on shares of Discover Financial Services from $70.00 to $71.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $62.50.

In other news, Director Mary K. Bush sold 1,920 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $49.23, for a total transaction of $94,521.60. Following the completion of the sale, the director now directly owns 55,899 shares of the company’s stock, valued at approximately $2,751,907.77. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Discover Financial Services Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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

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