Huntington National Bank Reduces Stock Holdings in Discover Financial Services (NYSE:DFS)

Huntington National Bank trimmed its stake in Discover Financial Services (NYSE:DFS) by 17.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,233 shares of the financial services provider’s stock after selling 672 shares during the period. Huntington National Bank’s holdings in Discover Financial Services were worth $454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Opal Wealth Advisors LLC bought a new position in Discover Financial Services during the second quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. raised 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 worth $26,000 after acquiring an additional 157 shares during the period. Y.D. More Investments Ltd lifted its holdings in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of 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 valued at $30,000 after purchasing an additional 95 shares during the period. Finally, Larson Financial Group LLC increased its stake in 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 buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

DFS has been the topic of a number of research reports. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Evercore ISI raised their price objective on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Discover Financial Services from $152.00 to $160.00 and gave the stock 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $138.81.

Discover Financial Services Trading Up 1.3 %

DFS opened at $176.07 on Friday. Discover Financial Services has a 1-year low of $84.03 and a 1-year high of $188.26. The firm has a market capitalization of $44.21 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 1.13 and a beta of 1.41. The company’s 50 day simple moving average is $147.90 and its two-hundred day simple moving average is $135.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates 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 company 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 earnings per share. Analysts expect that Discover Financial Services will post 13.22 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s payout ratio is 22.60%.

Discover Financial Services Company 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.