Intrust Bank NA increased its holdings in Discover Financial Services (NYSE:DFS) by 2.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 18,832 shares of the financial services provider’s stock after purchasing an additional 454 shares during the period. Intrust Bank NA’s holdings in Discover Financial Services were worth $1,340,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Discover Financial Services during the 4th quarter valued at about $162,561,000. Oregon Public Employees Retirement Fund lifted its position in shares of Discover Financial Services by 5,727.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,230,742 shares of the financial services provider’s stock valued at $38,000 after buying an additional 2,192,460 shares in the last quarter. BlackRock Inc. lifted its position in shares of Discover Financial Services by 6.2% during the 1st quarter. BlackRock Inc. now owns 23,825,935 shares of the financial services provider’s stock valued at $1,695,456,000 after buying an additional 1,399,427 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Discover Financial Services by 15.4% during the 4th quarter. Principal Financial Group Inc. now owns 3,765,063 shares of the financial services provider’s stock valued at $222,063,000 after buying an additional 502,539 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Discover Financial Services during the 4th quarter valued at about $28,197,000. Institutional investors own 84.85% of the company’s stock.

In other Discover Financial Services news, Director Mary K. Bush sold 496 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $77.53, for a total value of $38,454.88. Following the completion of the sale, the director now directly owns 53,564 shares in the company, valued at approximately $4,152,816.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Carlos Minetti sold 3,750 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $71.73, for a total value of $268,987.50. Following the completion of the sale, the executive vice president now owns 128,327 shares of the company’s stock, valued at $9,204,895.71. The disclosure for this sale can be found here. Insiders sold a total of 52,119 shares of company stock valued at $4,222,655 over the last quarter. Company insiders own 0.81% of the company’s stock.

A number of research analysts have recently weighed in on the company. Goldman Sachs Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $56.00 in a research report on Friday, May 3rd. Oppenheimer cut Discover Financial Services from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 7th. BMO Capital Markets lifted their price objective on Discover Financial Services to $92.00 and gave the company a “market perform” rating in a research report on Monday, April 29th. Royal Bank of Canada assumed coverage on Discover Financial Services in a research report on Friday, May 3rd. They set an “outperform” rating and a $96.00 price objective on the stock. Finally, Nomura boosted their price target on Discover Financial Services from $81.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $81.25.

Shares of DFS stock traded up $0.33 during mid-day trading on Monday, hitting $74.88. The stock had a trading volume of 9,304 shares, compared to its average volume of 1,692,709. Discover Financial Services has a 12-month low of $54.36 and a 12-month high of $82.51. The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.13 and a beta of 1.60. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 2.46.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, April 25th. The financial services provider reported $2.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.13. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts predict that Discover Financial Services will post 8.79 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 24th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, May 23rd. Discover Financial Services’s dividend payout ratio is 20.54%.

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About Discover Financial Services

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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