Arvest Bank Trust Division Lowers stake in Discover Financial Services (DFS)

Discover Financial Services (DFS) : Arvest Bank Trust Division reduced its stake in Discover Financial Services by 0.72% during the most recent quarter end. The investment management company now holds a total of 300,472 shares of Discover Financial Services which is valued at $16,946,621 after selling 2,187 shares in Discover Financial Services , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Discover Financial Services makes up approximately 1.43% of Arvest Bank Trust Division’s portfolio.

Other Hedge Funds, Including , Trust Co Of Oklahoma boosted its stake in DFS in the latest quarter, The investment management firm added 481 additional shares and now holds a total of 5,015 shares of Discover Financial Services which is valued at $282,846. Discover Financial Services makes up approx 0.16% of Trust Co Of Oklahoma’s portfolio.Private Asset Management Inc reduced its stake in DFS by selling 80 shares or 0.66% in the most recent quarter. The Hedge Fund company now holds 11,974 shares of DFS which is valued at $683,715. Discover Financial Services makes up approx 0.12% of Private Asset Management Inc’s portfolio.Washington Trust Bank boosted its stake in DFS in the latest quarter, The investment management firm added 44 additional shares and now holds a total of 3,809 shares of Discover Financial Services which is valued at $217,494. Discover Financial Services makes up approx 0.05% of Washington Trust Bank’s portfolio.Lvm Capital Management Ltdmi boosted its stake in DFS in the latest quarter, The investment management firm added 48,730 additional shares and now holds a total of 117,195 shares of Discover Financial Services which is valued at $6,691,835. Discover Financial Services makes up approx 2.11% of Lvm Capital Management Ltdmi’s portfolio.

Discover Financial Services closed down -0.27 points or -0.48% at $56.4 with 25,77,726 shares getting traded on Friday. Post opening the session at $56.78, the shares hit an intraday low of $56.31 and an intraday high of $57.1 and the price fluctuated in this range throughout the day.Shares ended Friday 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. 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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