Patton Fund Management Inc. Trims Holdings in Discover Financial Services (NYSE:DFS)

Patton Fund Management Inc. trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 13.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,919 shares of the financial services provider’s stock after selling 3,595 shares during the quarter. Patton Fund Management Inc.’s holdings in Discover Financial Services were worth $4,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DFS. National Pension Service lifted its holdings in shares of Discover Financial Services by 14.8% during the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock worth $61,693,000 after acquiring an additional 56,814 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after purchasing an additional 10,946 shares in the last quarter. Brookstone Capital Management bought a new stake in Discover Financial Services during the fourth quarter worth about $282,000. Meyer Handelman Co. bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $239,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Discover Financial Services during the 3rd quarter valued at about $2,415,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Price Performance

Shares of DFS stock opened at $199.84 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. Discover Financial Services has a fifty-two week low of $104.08 and a fifty-two week high of $204.93. The firm has a market cap of $50.22 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.15 and a beta of 1.46. The business’s 50 day moving average price is $179.90 and its 200-day moving average price is $155.83.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. On average, equities research analysts anticipate that Discover Financial Services will post 12.82 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Barclays upped their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $182.64.

About Discover Financial Services

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.