Hammer Asset Management LLC grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,254 shares of the financial services provider’s stock after acquiring an additional 282 shares during the period. Discover Financial Services comprises approximately 2.6% of Hammer Asset Management LLC’s holdings, making the stock its 11th largest position. Hammer Asset Management LLC’s holdings in Discover Financial Services were worth $3,201,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Discover Financial Services by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,271,726 shares of the financial services provider’s stock worth $133,983,000 after acquiring an additional 199,220 shares in the last quarter. Geode Capital Management LLC grew its holdings in Discover Financial Services by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,609,400 shares of the financial services provider’s stock worth $271,408,000 after acquiring an additional 76,252 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Discover Financial Services during the 1st quarter worth approximately $841,000. Investec Asset Management LTD grew its holdings in Discover Financial Services by 5.2% during the 1st quarter. Investec Asset Management LTD now owns 3,042,582 shares of the financial services provider’s stock worth $216,510,000 after acquiring an additional 150,486 shares in the last quarter. Finally, Investec Asset Management North America Inc. boosted its holdings in shares of Discover Financial Services by 2.7% in the 1st quarter. Investec Asset Management North America Inc. now owns 301,508 shares of the financial services provider’s stock valued at $21,455,000 after buying an additional 7,899 shares in the last quarter. 85.15% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on DFS shares. Bank of America started coverage on shares of Discover Financial Services in a report on Wednesday, June 19th. They issued a “neutral” rating for the company. UBS Group upped their target price on shares of Discover Financial Services from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Zacks Investment Research cut shares of Discover Financial Services from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a report on Friday, June 7th. JMP Securities upgraded shares of Discover Financial Services from an “outperform” rating to a “buy” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Discover Financial Services from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $84.35.

DFS stock traded up $0.05 on Thursday, hitting $79.82. The company’s stock had a trading volume of 28,837 shares, compared to its average volume of 2,591,758. The firm has a 50 day moving average of $83.59 and a two-hundred day moving average of $77.10. Discover Financial Services has a 1 year low of $54.36 and a 1 year high of $92.98. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 10.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.55. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.11 by $0.21. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. Discover Financial Services’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, equities analysts forecast that Discover Financial Services will post 9.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be given a $0.44 dividend. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, August 21st. This represents a $1.76 annualized dividend and a yield of 2.20%. Discover Financial Services’s dividend payout ratio is 20.54%.

In other Discover Financial Services news, Director Mary K. Bush sold 993 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $83.27, for a total transaction of $82,687.11. Following the completion of the transaction, the director now owns 52,075 shares in the company, valued at approximately $4,336,285.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO R. Mark Graf sold 4,776 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $92.44, for a total transaction of $441,493.44. Following the transaction, the chief financial officer now owns 51,296 shares of the company’s stock, valued at approximately $4,741,802.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,663 shares of company stock valued at $2,534,291. 0.81% of the stock is owned by insiders.

Discover Financial Services Company 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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