CIBC Asset Management Inc Purchases 2,880 Shares of Discover Financial Services (NYSE:DFS)

CIBC Asset Management Inc raised its position in shares of Discover Financial Services (NYSE:DFS) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,896 shares of the financial services provider’s stock after purchasing an additional 2,880 shares during the period. CIBC Asset Management Inc’s holdings in Discover Financial Services were worth $5,176,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of DFS. Elser Financial Planning Inc bought a new stake in Discover Financial Services during the 2nd quarter valued at $91,044,000. Magnetar Financial LLC bought a new stake in Discover Financial Services during the 1st quarter valued at $71,693,000. Samlyn Capital LLC raised its position in Discover Financial Services by 368.0% during the 2nd quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after purchasing an additional 508,504 shares in the last quarter. National Bank of Canada FI raised its position in Discover Financial Services by 430.5% during the 1st quarter. National Bank of Canada FI now owns 443,707 shares of the financial services provider’s stock valued at $54,752,000 after purchasing an additional 360,074 shares in the last quarter. Finally, Natixis raised its position in Discover Financial Services by 1,041.9% during the 1st quarter. Natixis now owns 233,852 shares of the financial services provider’s stock valued at $30,656,000 after purchasing an additional 213,373 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Up 1.3 %

Discover Financial Services stock opened at $176.07 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The business’s 50-day simple moving average is $147.90 and its two-hundred day simple moving average is $136.07. The company has a market cap of $44.21 billion, a PE ratio of 14.21, a PEG ratio of 1.14 and a beta of 1.41. Discover Financial Services has a fifty-two week low of $84.03 and a fifty-two week high of $188.26.

Discover Financial Services (NYSE:DFS) last posted its quarterly 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. The business had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter in the previous year, the business earned $2.59 EPS. Equities analysts anticipate that Discover Financial Services will post 13.23 EPS for the current year.

Discover Financial Services Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company boosted 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. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI boosted their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target 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. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and an average price target of $138.81.

About Discover Financial Services

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.