Md Sass Investors Services Inc buys $87,165,767 stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Md Sass Investors Services Inc scooped up 16,100 additional shares in Discover Financial Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 1,498,466 shares of Discover Financial Services which is valued at $87,165,767.Discover Financial Services makes up approximately 4.44% of Md Sass Investors Services Inc’s portfolio.

Other Hedge Funds, Including , Raymond James Associates boosted its stake in DFS in the latest quarter, The investment management firm added 60,684 additional shares and now holds a total of 438,089 shares of Discover Financial Services which is valued at $25,483,637. Discover Financial Services makes up approx 0.08% of Raymond James Associates’s portfolio.Cetera Advisor Networks boosted its stake in DFS in the latest quarter, The investment management firm added 588 additional shares and now holds a total of 5,636 shares of Discover Financial Services which is valued at $327,846. Discover Financial Services makes up approx 0.02% of Cetera Advisor Networks’s portfolio.Calvert Investment Management reduced its stake in DFS by selling 1,446 shares or 4.47% in the most recent quarter. The Hedge Fund company now holds 30,887 shares of DFS which is valued at $1,784,960. Discover Financial Services makes up approx 0.09% of Calvert Investment Management’s portfolio.Candriam Luxembourg S.c.a. boosted its stake in DFS in the latest quarter, The investment management firm added 14,369 additional shares and now holds a total of 431,645 shares of Discover Financial Services which is valued at $24,457,006. Discover Financial Services makes up approx 0.62% of Candriam Luxembourg S.c.a.’s portfolio.Bremer Trust National Association reduced its stake in DFS by selling 328 shares or 2.05% in the most recent quarter. The Hedge Fund company now holds 15,698 shares of DFS which is valued at $888,350. Discover Financial Services makes up approx 0.24% of Bremer Trust National Association’s portfolio.

Discover Financial Services opened for trading at $57.87 and hit $58.34 on the upside on Tuesday, eventually ending the session at $58.07, with a gain of 0.59% or 0.34 points. The heightened volatility saw the trading volume jump to 18,12,556 shares. Company has a market cap of $23,439 M.

On the company’s financial health, Discover Financial Services reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.40. The company had revenue of $2216.00 million for the quarter, compared to analysts expectations of $2228.30 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Many Wall Street Analysts have commented on Discover Financial Services. Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Top Pick”, Firm has raised the Price Target to $ 73 from a previous price target of $68 .

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 provides direct banking products and services and payment services through its subsidiaries. The Company manages its business activities in two segments: Direct Banking and Payment Services. Direct Banking segment 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 private student loans personal loans home loans home equity loans prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE Diners Club and the Company’s network partners business which provides payment transaction processing and settlement services on the Discover Network.

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