Sva Plumb Wealth Management buys $5,424,527 stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Sva Plumb Wealth Management scooped up 3,227 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 12, 2016. The investment management firm now holds a total of 93,253 shares of Discover Financial Services which is valued at $5,424,527.Discover Financial Services makes up approximately 0.84% of Sva Plumb Wealth Management’s portfolio.

Other Hedge Funds, Including , Df Dent Co Inc reduced its stake in DFS by selling 248,473 shares or 17.71% in the most recent quarter. The Hedge Fund company now holds 1,154,451 shares of DFS which is valued at $67,154,415. Discover Financial Services makes up approx 1.81% of Df Dent Co Inc’s portfolio.Tiemann Investment Advisors reduced its stake in DFS by selling 50 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 10,085 shares of DFS which is valued at $586,644. Discover Financial Services makes up approx 0.53% of Tiemann Investment Advisors’s portfolio.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.Cibc Asset Management Inc boosted its stake in DFS in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 41,522 shares of Discover Financial Services which is valued at $2,338,934. Discover Financial Services makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.

Discover Financial Services opened for trading at $58.66 and hit $59.275 on the upside on Monday, eventually ending the session at $59.15, with a gain of 1.18% or 0.69 points. The heightened volatility saw the trading volume jump to 28,33,314 shares. Company has a market cap of $23,875 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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