Discover Financial Services (NYSE:DFS) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,078 shares of the financial services provider’s stock after selling 462 shares during the quarter. Glenmede Trust Co. NA’s holdings in Discover Financial Services were worth $8,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the second quarter worth approximately $26,000. DiNuzzo Private Wealth Inc. boosted its stake in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 157 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Discover Financial Services by 348.2% in the 2nd 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 during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI increased their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Royal Bank of Canada lifted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company upped their price target on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services has an average rating of “Hold” and a consensus price target of $138.81.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $182.43 on Friday. The firm’s 50 day moving average is $156.66 and its two-hundred day moving average is $139.67. The firm has a market capitalization of $45.80 billion, a P/E ratio of 14.72, a PEG ratio of 1.17 and a beta of 1.41. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 52 week low of $89.58 and a 52 week high of $188.26.

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

Discover Financial Services Dividend Announcement

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

Discover Financial Services 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.