Teza Capital Management LLC Lowers Stock Holdings in Discover Financial Services (NYSE:DFS)

Teza Capital Management LLC lowered its holdings in shares of Discover Financial Services (NYSE:DFS) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,077 shares of the financial services provider’s stock after selling 1,952 shares during the quarter. Discover Financial Services accounts for about 1.0% of Teza Capital Management LLC’s portfolio, making the stock its 12th biggest position. Teza Capital Management LLC’s holdings in Discover Financial Services were worth $1,927,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. FIL Ltd lifted its position in shares of Discover Financial Services by 28.7% in the first quarter. FIL Ltd now owns 978,989 shares of the financial services provider’s stock valued at $69,665,000 after buying an additional 218,343 shares during the last quarter. State of Tennessee Treasury Department lifted its holdings in Discover Financial Services by 12.4% during the 1st quarter. State of Tennessee Treasury Department now owns 348,218 shares of the financial services provider’s stock worth $24,780,000 after purchasing an additional 38,344 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Discover Financial Services during the 1st quarter worth approximately $912,000. Glassman Wealth Services lifted its holdings in Discover Financial Services by 10.2% during the 1st quarter. Glassman Wealth Services now owns 3,873 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 359 shares during the last quarter. Finally, GAM Holding AG lifted its holdings in Discover Financial Services by 4.9% during the 1st quarter. GAM Holding AG now owns 15,498 shares of the financial services provider’s stock worth $1,103,000 after purchasing an additional 722 shares during the last quarter. Institutional investors and hedge funds own 84.85% of the company’s stock.

DFS has been the subject of several research reports. Royal Bank of Canada initiated coverage on Discover Financial Services in a report on Friday, May 3rd. They set an “outperform” rating and a $96.00 price target for the company. Oppenheimer cut Discover Financial Services from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 7th. BMO Capital Markets lifted their price objective on Discover Financial Services to $92.00 and gave the company a “market perform” rating in a report on Monday, April 29th. JMP Securities lifted their price objective on Discover Financial Services from $74.00 to $80.00 and gave the company a “market outperform” rating in a report on Thursday, April 4th. Finally, Nomura lifted their price objective on Discover Financial Services from $81.00 to $86.00 and gave the company a “buy” rating in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $80.38.

Shares of DFS remained flat at $$77.59 during midday trading on Friday. The stock had a trading volume of 3,766,617 shares, compared to its average volume of 1,998,100. Discover Financial Services has a one year low of $54.36 and a one year high of $82.51. The company’s 50 day simple moving average is $77.48. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $25.12 billion, a P/E ratio of 9.96, a PEG ratio of 1.04 and a beta of 1.60.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.13. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.76 billion. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 EPS. As a group, research analysts anticipate that Discover Financial Services will post 8.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, May 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. Discover Financial Services’s dividend payout ratio is currently 20.54%.

In other Discover Financial Services news, Director Mary K. Bush sold 496 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $77.53, for a total value of $38,454.88. Following the sale, the director now owns 53,564 shares in the company, valued at approximately $4,152,816.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Edward W. Mcgrogan sold 2,450 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $81.60, for a total value of $199,920.00. Following the completion of the sale, the senior vice president now owns 13,166 shares in the company, valued at approximately $1,074,345.60. The disclosure for this sale can be found here. Insiders have sold a total of 52,119 shares of company stock worth $4,222,655 in the last 90 days. 0.81% of the stock is currently owned by corporate insiders.

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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