Palladium Partners buys $13,282,183 stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Palladium Partners scooped up 610 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 18, 2016. The investment management firm now holds a total of 235,918 shares of Discover Financial Services which is valued at $13,282,183.Discover Financial Services makes up approximately 1.17% of Palladium Partners’s portfolio.

Other Hedge Funds, Including , Americafirst Capital Management reduced its stake in DFS by selling 3,120 shares or 20.97% in the most recent quarter. The Hedge Fund company now holds 11,756 shares of DFS which is valued at $661,863. Discover Financial Services makes up approx 0.46% of Americafirst Capital Management’s portfolio.Independent Portfolio Consultants reduced its stake in DFS by selling 1,095 shares or 85.55% in the most recent quarter. The Hedge Fund company now holds 185 shares of DFS which is valued at $10,562.Gradient Investments reduced its stake in DFS by selling 141 shares or 54.02% in the most recent quarter. The Hedge Fund company now holds 120 shares of DFS which is valued at $6,851.Lvm Capital Management Ltdmi boosted its stake in DFS in the latest quarter, The investment management firm added 1,415 additional shares and now holds a total of 68,465 shares of Discover Financial Services which is valued at $3,764,206. Discover Financial Services makes up approx 1.08% of Lvm Capital Management Ltdmi’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in DFS by selling 70,999 shares or 41.1% in the most recent quarter. The Hedge Fund company now holds 101,739 shares of DFS which is valued at $5,593,610. Discover Financial Services makes up approx 0.02% of Bnp Paribas Arbitrage Sa’s portfolio.

Discover Financial Services closed down -0.68 points or -1.19% at $56.3 with 39,08,557 shares getting traded on Wednesday. Post opening the session at $56.14, the shares hit an intraday low of $55.385 and an intraday high of $56.72 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.

Investors should note that on Jul 14, 2016, Discover Financial Services announced a cash dividend of $0.3000. The company’s management has announced Aug 2, 2016 as the ex-dividend date and fixed the record date on Aug 4, 2016. The payable date has been fixed on Aug 18, 2016.

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 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 Company’s network partners business which provides payment transaction processing and settlement services on the Discover Network.

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