Resources Management Corp CT ADV Invests $55,000 in Discover Financial Services (NYSE:DFS)

Resources Management Corp CT ADV purchased a new stake in shares of Discover Financial Services (NYSE:DFS) during the 3rd quarter, Holdings Channel reports. The fund purchased 675 shares of the financial services provider’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Calamos Advisors LLC boosted its stake in shares of Discover Financial Services by 1.7% in the 2nd quarter. Calamos Advisors LLC now owns 257,301 shares of the financial services provider’s stock valued at $19,964,000 after purchasing an additional 4,184 shares during the last quarter. Prudential PLC grew its stake in shares of Discover Financial Services by 1.4% during the second quarter. Prudential PLC now owns 309,030 shares of the financial services provider’s stock worth $24,104,000 after purchasing an additional 4,356 shares during the period. AE Wealth Management LLC acquired a new stake in shares of Discover Financial Services during the second quarter worth $343,000. Barings LLC grew its stake in shares of Discover Financial Services by 5.6% during the second quarter. Barings LLC now owns 28,478 shares of the financial services provider’s stock worth $2,210,000 after purchasing an additional 1,500 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Discover Financial Services in the third quarter valued at about $439,000. 84.92% of the stock is currently owned by institutional investors and hedge funds.

DFS stock opened at $84.31 on Friday. The business’s 50-day moving average price is $82.79 and its two-hundred day moving average price is $81.10. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The firm has a market cap of $26.43 billion, a PE ratio of 10.82, a P/E/G ratio of 1.26 and a beta of 1.62. Discover Financial Services has a 1-year low of $54.36 and a 1-year high of $92.98.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.07. Discover Financial Services had a return on equity of 26.79% and a net margin of 20.97%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. The company’s revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Discover Financial Services will post 9.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Wednesday, November 20th. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.59%.

DFS has been the topic of several analyst reports. ValuEngine lowered Discover Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Nomura restated a “neutral” rating and set a $89.00 target price (down from $96.00) on shares of Discover Financial Services in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Co upped their price target on Discover Financial Services from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, October 23rd. Finally, Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Discover Financial Services presently has a consensus rating of “Hold” and a consensus target price of $86.24.

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.

Further Reading: Market Capitalization and Individual Investors

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

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