Discover Financial Services (DFS) : Handelsbanken Fonder Ab scooped up 20,000 additional shares in Discover Financial Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 559,946 shares of Discover Financial Services which is valued at $31,967,317.Discover Financial Services makes up approximately 1.27% of Handelsbanken Fonder Ab’s portfolio.
Other Hedge Funds, Including , Eastern Bank reduced its stake in DFS by selling 936 shares or 7.35% in the most recent quarter. The Hedge Fund company now holds 11,793 shares of DFS which is valued at $673,262. Discover Financial Services makes up approx 0.05% of Eastern Bank’s portfolio.Atria Investments reduced its stake in DFS by selling 208 shares or 1.48% in the most recent quarter. The Hedge Fund company now holds 13,875 shares of DFS which is valued at $786,851. Discover Financial Services makes up approx 0.08% of Atria Investments’s portfolio.Creative Planning reduced its stake in DFS by selling 619 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 21,755 shares of DFS which is valued at $1,233,726. Discover Financial Services makes up approx 0.01% of Creative Planning’s portfolio.Washington Trust Bank reduced its stake in DFS by selling 160 shares or 4.08% in the most recent quarter. The Hedge Fund company now holds 3,765 shares of DFS which is valued at $207,000. Discover Financial Services makes up approx 0.05% of Washington Trust Bank’s portfolio.
Discover Financial Services closed down -0.33 points or -0.57% at $57.09 with 29,61,925 shares getting traded on Monday. Post opening the session at $57.4, the shares hit an intraday low of $57 and an intraday high of $57.65 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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. Discover Financial Services was Downgraded by Macquarie to ” Neutral” on May 11, 2016. Company shares were Reiterated by Stifel on Apr 20, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $60 .
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 Companys network partners business which provides payment transaction processing and settlement services on the Discover Network.