Discover Financial Services (DFS) : Glassman Wealth Services added new position in Discover Financial Services during the most recent quarter end. The investment management firm now holds 2,400 shares of Discover Financial Services which is valued at $139,320 , the company said in a statement filed on Aug 9, 2016 with the SEC.Discover Financial Services makes up approximately 0.12% of Glassman Wealth Services’s portfolio.
Other Hedge Funds, Including , Newfound Research added DFS to its portfolio by purchasing 1 company shares during the most recent quarter which is valued at $58.California State Teachers Retirement System reduced its stake in DFS by selling 18,193 shares or 2.01% in the most recent quarter. The Hedge Fund company now holds 886,659 shares of DFS which is valued at $49,945,501. Discover Financial Services makes up approx 0.10% of California State Teachers Retirement System’s portfolio.Solaris Asset Management reduced its stake in DFS by selling 1,952 shares or 2.61% in the most recent quarter. The Hedge Fund company now holds 72,716 shares of DFS which is valued at $4,120,089. Discover Financial Services makes up approx 2.93% of Solaris Asset Management’s portfolio.Corbyn Investment Management Incmd reduced its stake in DFS by selling 405 shares or 0.17% in the most recent quarter. The Hedge Fund company now holds 243,687 shares of DFS which is valued at $13,912,091. Discover Financial Services makes up approx 4.34% of Corbyn Investment Management Incmd’s portfolio.
Discover Financial Services opened for trading at $57.87 and hit $58.21 on the upside on Wednesday, eventually ending the session at $58.08, with a gain of 0.14% or 0.08 points. The heightened volatility saw the trading volume jump to 17,76,956 shares. Company has a market cap of $23,443 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 Companys network partners business which provides payment transaction processing and settlement services on the Discover Network.