8,820 Shares in Discover Financial Services (DFS) Acquired by First Business Financial Services Inc.

8,820 Shares in Discover Financial Services (DFS) Acquired by First Business Financial Services Inc.

First Business Financial Services Inc. bought a new stake in shares of Discover Financial Services (NYSE:DFS) during the third quarter, Holdings Channel reports. The institutional investor bought 8,820 shares of the financial services provider’s stock, valued at approximately $499,000. Discover Financial Services comprises 0.1% of First Business Financial Services Inc.’s holdings, making the stock its 27th largest position.

Several other institutional investors have also recently added to or reduced their stakes in DFS. Quadrant Capital Group LLC increased its stake in shares of Discover Financial Services by 0.3% in the second quarter. Quadrant Capital Group LLC now owns 4,255 shares of the financial services provider’s stock valued at $224,000 after buying an additional 14 shares in the last quarter. MSI Financial Services Inc increased its stake in shares of Discover Financial Services by 0.4% in the third quarter. MSI Financial Services Inc now owns 10,530 shares of the financial services provider’s stock valued at $595,000 after buying an additional 39 shares in the last quarter. Washington Trust Bank increased its stake in shares of Discover Financial Services by 1.2% in the third quarter. Washington Trust Bank now owns 3,809 shares of the financial services provider’s stock valued at $215,000 after buying an additional 44 shares in the last quarter. Duncker Streett & Co. Inc. increased its stake in shares of Discover Financial Services by 0.3% in the third quarter. Duncker Streett & Co. Inc. now owns 18,272 shares of the financial services provider’s stock valued at $1,033,000 after buying an additional 50 shares in the last quarter. Finally, Conning Inc. increased its stake in shares of Discover Financial Services by 0.5% in the third quarter. Conning Inc. now owns 10,687 shares of the financial services provider’s stock valued at $604,000 after buying an additional 50 shares in the last quarter. 84.43% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services (NYSE:DFS) traded up 0.13% during midday trading on Friday, hitting $69.44. 332,547 shares of the stock traded hands. Discover Financial Services has a one year low of $42.86 and a one year high of $74.33. The company has a market cap of $27.01 billion, a PE ratio of 12.03 and a beta of 1.47. The company’s 50-day moving average is $71.63 and its 200-day moving average is $61.96.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 23rd. Investors of record on Thursday, February 9th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, February 7th. Discover Financial Services’s payout ratio is 20.76%.

Several research firms have recently issued reports on DFS. Wedbush began coverage on shares of Discover Financial Services in a research note on Monday, October 10th. They set a “neutral” rating and a $63.00 target price on the stock. Compass Point began coverage on shares of Discover Financial Services in a research note on Friday, January 6th. They set a “buy” rating on the stock. Jefferies Group LLC reissued a “buy” rating and set a $70.00 target price on shares of Discover Financial Services in a research note on Friday, October 28th. Bank of America Corp raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating in a research note on Thursday, December 15th. Finally, Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Tuesday, January 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. Discover Financial Services currently has an average rating of “Buy” and a consensus target price of $68.00.

In related news, EVP Kathryn Mcnamara Corley sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the executive vice president now owns 156,476 shares of the company’s stock, valued at $8,809,598.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger C. Hochschild sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $68.16, for a total transaction of $681,600.00. Following the transaction, the chief operating officer now directly owns 815,872 shares in the company, valued at approximately $55,609,835.52. The disclosure for this sale can be found here. Insiders have sold 27,229 shares of company stock worth $1,652,284 in the last three months. Insiders own 1.07% of the company’s stock.

Discover Financial Services Company Profile

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

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