Discover Financial Services (DFS) : Quantum Capital Management reduced its stake in Discover Financial Services by 3.73% during the most recent quarter end. The investment management company now holds a total of 293,520 shares of Discover Financial Services which is valued at $17,074,058 after selling 11,388 shares in Discover Financial Services , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Discover Financial Services makes up approximately 2.31% of Quantum Capital Management’s portfolio.
Other Hedge Funds, Including , Bluemountain Capital Management sold out all of its stake in DFS during the most recent quarter. The investment firm sold 6,371 shares of DFS which is valued $370,601.Wesbanco Bank Inc boosted its stake in DFS in the latest quarter, The investment management firm added 7,195 additional shares and now holds a total of 48,809 shares of Discover Financial Services which is valued at $2,833,362. Discover Financial Services makes up approx 0.16% of Wesbanco Bank Inc’s portfolio.Edge Asset Management Inc boosted its stake in DFS in the latest quarter, The investment management firm added 501,184 additional shares and now holds a total of 2,709,839 shares of Discover Financial Services which is valued at $157,062,268. Discover Financial Services makes up approx 1.35% of Edge Asset Management Inc’s portfolio.Rehmann Capital Advisory Group boosted its stake in DFS in the latest quarter, The investment management firm added 356 additional shares and now holds a total of 8,219 shares of Discover Financial Services which is valued at $465,689. Discover Financial Services makes up approx 0.09% of Rehmann Capital Advisory Group’s portfolio.Checchi Capital Advisers reduced its stake in DFS by selling 322 shares or 9.49% in the most recent quarter. The Hedge Fund company now holds 3,070 shares of DFS which is valued at $173,731. Discover Financial Services makes up approx 0.04% of Checchi Capital Advisers’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 Companys network partners business which provides payment transaction processing and settlement services on the Discover Network.