ProShare Advisors LLC Has $7.56 Million Position in Discover Financial Services (DFS)

ProShare Advisors LLC increased its position in shares of Discover Financial Services (NYSE:DFS) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,538 shares of the financial services provider’s stock after purchasing an additional 1,784 shares during the period. ProShare Advisors LLC’s holdings in Discover Financial Services were worth $7,558,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Jaffetilchin Investment Partners LLC grew its stake in shares of Discover Financial Services by 0.7% during the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 24 shares in the last quarter. South State Corp grew its stake in shares of Discover Financial Services by 0.7% during the second quarter. South State Corp now owns 3,457 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 25 shares in the last quarter. Advisor Partners LLC grew its stake in shares of Discover Financial Services by 0.4% during the second quarter. Advisor Partners LLC now owns 7,159 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 27 shares in the last quarter. First Bank & Trust grew its stake in shares of Discover Financial Services by 1.4% during the second quarter. First Bank & Trust now owns 3,135 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 42 shares in the last quarter. Finally, Perigon Wealth Management LLC grew its stake in shares of Discover Financial Services by 2.3% during the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 85.45% of the company’s stock.

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Several equities analysts have issued reports on DFS shares. BMO Capital Markets restated a “hold” rating and issued a $70.00 price objective on shares of Discover Financial Services in a research note on Thursday, June 1st. ValuEngine downgraded shares of Discover Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of Discover Financial Services from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Jefferies Group LLC restated a “buy” rating and issued a $82.00 price objective on shares of Discover Financial Services in a research note on Friday, June 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $75.00 price objective (down previously from $81.00) on shares of Discover Financial Services in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $73.95.

Discover Financial Services (NYSE DFS) traded down 0.20% during trading on Tuesday, reaching $60.13. 141,771 shares of the company’s stock were exchanged. Discover Financial Services has a 52 week low of $53.91 and a 52 week high of $74.33. The company’s 50 day moving average price is $59.74 and its 200-day moving average price is $62.49. The stock has a market capitalization of $22.39 billion, a price-to-earnings ratio of 10.37 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.05). Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the business earned $1.47 earnings per share. Discover Financial Services’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts expect that Discover Financial Services will post $5.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.32%. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.18%.

Discover Financial Services announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $2.23 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

In other news, EVP Kathryn Mcnamara Corley sold 4,000 shares of Discover Financial Services stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.63, for a total value of $238,520.00. Following the sale, the executive vice president now directly owns 150,744 shares in the company, valued at approximately $8,988,864.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $62.52, for a total value of $1,875,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,002 shares of company stock worth $9,580,337. 0.96% of the stock is owned by corporate insiders.

Discover Financial Services Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

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

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