Discover Financial Services (DFS) : Putnam Fl Investment Management Co scooped up 1,855 additional shares in Discover Financial Services during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 161,073 shares of Discover Financial Services which is valued at $8,830,022.Discover Financial Services makes up approximately 1.02% of Putnam Fl Investment Management Co’s portfolio.
Other Hedge Funds, Including , Eastern Bank reduced its stake in DFS by selling 810 shares or 6.87% in the most recent quarter. The Hedge Fund company now holds 10,983 shares of DFS which is valued at $602,088. Discover Financial Services makes up approx 0.05% of Eastern Bank’s portfolio.Atria Investments reduced its stake in DFS by selling 421 shares or 3.03% in the most recent quarter. The Hedge Fund company now holds 13,454 shares of DFS which is valued at $746,562. Discover Financial Services makes up approx 0.07% of Atria Investments’s portfolio.Centurylink Investment Management Co reduced its stake in DFS by selling 2,099 shares or 6.26% in the most recent quarter. The Hedge Fund company now holds 31,408 shares of DFS which is valued at $1,742,830. Discover Financial Services makes up approx 0.60% of Centurylink Investment Management Co’s portfolio.Exxonmobil Investment Management Inc Tx reduced its stake in DFS by selling 3,645 shares or 3.42% in the most recent quarter. The Hedge Fund company now holds 103,060 shares of DFS which is valued at $5,812,584. Discover Financial Services makes up approx 0.12% of Exxonmobil Investment Management Inc Tx’s portfolio.Arvest Bank Trust Division reduced its stake in DFS by selling 2,187 shares or 0.72% in the most recent quarter. The Hedge Fund company now holds 300,472 shares of DFS which is valued at $16,946,621. Discover Financial Services makes up approx 1.43% of Arvest Bank Trust Division’s portfolio.
Discover Financial Services opened for trading at $55 and hit $55.48 on the upside on Friday, eventually ending the session at $54.82, with a gain of 0.57% or 0.31 points. The heightened volatility saw the trading volume jump to 21,34,978 shares. Company has a market cap of $22,127 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.
Investors should note that on Oct 13, 2016, Discover Financial Services announced a cash dividend of $0.3000. The company’s management has announced Nov 1, 2016 as the ex-dividend date and fixed the record date on Nov 3, 2016. The payable date has been fixed on Nov 17, 2016.
Many Wall Street Analysts have commented on Discover Financial Services. Wedbush Initiated Discover Financial Services on Oct 11, 2016 to “Neutral”, Price Target of the shares are set at $63.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.