White Pine Investment CO Raises Holdings in Discover Financial Services (DFS)

White Pine Investment CO boosted its holdings in shares of Discover Financial Services (NYSE:DFS) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 78,366 shares of the financial services provider’s stock after purchasing an additional 1,740 shares during the period. Discover Financial Services makes up 2.9% of White Pine Investment CO’s investment portfolio, making the stock its 7th largest holding. White Pine Investment CO’s holdings in Discover Financial Services were worth $5,518,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DFS. BlackRock Inc. boosted its holdings in shares of Discover Financial Services by 1.2% in the first quarter. BlackRock Inc. now owns 24,203,881 shares of the financial services provider’s stock valued at $1,740,986,000 after acquiring an additional 288,682 shares in the last quarter. Boston Partners boosted its holdings in shares of Discover Financial Services by 0.8% in the second quarter. Boston Partners now owns 12,463,962 shares of the financial services provider’s stock valued at $877,588,000 after acquiring an additional 95,312 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Discover Financial Services by 6.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 7,712,071 shares of the financial services provider’s stock valued at $554,729,000 after acquiring an additional 454,282 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Discover Financial Services by 0.5% in the first quarter. LSV Asset Management now owns 6,935,251 shares of the financial services provider’s stock valued at $498,852,000 after acquiring an additional 37,101 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Discover Financial Services by 46.4% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,674,623 shares of the financial services provider’s stock valued at $264,318,000 after acquiring an additional 1,165,130 shares in the last quarter. 87.20% of the stock is currently owned by institutional investors.

DFS stock opened at $74.52 on Friday. The stock has a market cap of $25.93 billion, a P/E ratio of 12.46, a P/E/G ratio of 0.89 and a beta of 1.49. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $81.93. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 2.54.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.03. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.63 billion. Discover Financial Services had a net margin of 19.07% and a return on equity of 24.25%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. equities analysts predict that Discover Financial Services will post 7.79 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Shareholders of record on Thursday, August 23rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.35. Discover Financial Services’s payout ratio is presently 23.41%.

Discover Financial Services declared that its Board of Directors has initiated a share repurchase program on Thursday, July 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 11.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

DFS has been the topic of several analyst reports. Goldman Sachs Group downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Monday, April 16th. UBS Group raised shares of Discover Financial Services from a “sell” rating to a “neutral” rating and set a $81.93 target price on the stock in a report on Monday, May 7th. Morgan Stanley lowered their target price on shares of Discover Financial Services from $93.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, April 30th. JMP Securities lowered their target price on shares of Discover Financial Services from $91.00 to $84.00 and set a “market outperform” rating on the stock in a report on Friday, April 27th. Finally, Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Tuesday, July 17th. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $85.27.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $71.79, for a total transaction of $2,153,700.00. Following the completion of the transaction, the chief executive officer now owns 1,240,798 shares in the company, valued at $89,076,888.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Carlos Minetti sold 3,750 shares of Discover Financial Services stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $69.90, for a total transaction of $262,125.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,174 shares of company stock valued at $5,138,244. 0.81% of the stock is currently owned by company 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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