CIBC Asset Management Inc Grows Stake in Discover Financial Services (NYSE:DFS)

CIBC Asset Management Inc increased its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 8.5% in the third quarter, according to its most recent 13F filing with the SEC. 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 SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OneDigital Investment Advisors LLC increased its stake in Discover Financial Services by 10.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,492 shares of the financial services provider's stock worth $771,000 after purchasing an additional 523 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Discover Financial Services by 1.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,647 shares of the financial services provider's stock worth $1,073,000 after buying an additional 140 shares during the period. Metis Global Partners LLC raised its holdings in Discover Financial Services by 2.9% during the 3rd quarter. Metis Global Partners LLC now owns 14,190 shares of the financial services provider's stock valued at $1,991,000 after buying an additional 400 shares during the last quarter. Schrum Private Wealth Management LLC raised its holdings in Discover Financial Services by 92.0% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 4,814 shares of the financial services provider's stock valued at $675,000 after buying an additional 2,307 shares during the last quarter. Finally, Haverford Trust Co grew its holdings in Discover Financial Services by 25.2% in the 3rd quarter. Haverford Trust Co now owns 2,910 shares of the financial services provider's stock worth $408,000 after acquiring an additional 586 shares during the last quarter. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Down 1.6 %

Discover Financial Services stock traded down $2.85 during mid-day trading on Monday, hitting $173.22. The company had a trading volume of 1,049,575 shares, compared to its average volume of 1,684,828. Discover Financial Services has a 12 month low of $85.19 and a 12 month high of $188.26. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The stock's 50 day moving average price is $147.90 and its two-hundred day moving average price is $136.07. The company has a market capitalization of $43.49 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period in the prior year, the firm posted $2.59 EPS. As a group, sell-side analysts anticipate that Discover Financial Services will post 13.23 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.62%. Discover Financial Services's dividend payout ratio (DPR) is presently 22.60%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DFS. StockNews.com downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Royal Bank of Canada increased their price objective on Discover Financial Services from $148.00 to $161.00 and gave the stock a "sector perform" rating in a report on Friday, October 18th. Evercore ISI boosted their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Discover Financial Services from $152.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $138.81.

Discover Financial Services Profile

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.