Raymond James Financial Services Advisors Inc. Sells 14,002 Shares of Discover Financial Services (NYSE:DFS)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Discover Financial Services (NYSE:DFS) by 8.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 142,944 shares of the financial services provider's stock after selling 14,002 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.06% of Discover Financial Services worth $18,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Partnership Wealth Management LLC bought a new stake in Discover Financial Services during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC bought a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $31,000. Riverview Trust Co bought a new stake in shares of Discover Financial Services in the first quarter worth approximately $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $35,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Price Performance

NYSE:DFS traded up $0.93 during trading hours on Thursday, hitting $124.51. 1,588,932 shares of the stock traded hands, compared to its average volume of 2,165,352. The company has a quick ratio of 1.13, a current ratio of 1.05 and a debt-to-equity ratio of 1.49. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $131.65. The company has a market cap of $31.20 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.77 and a beta of 1.43. The stock has a 50 day moving average price of $124.34 and a 200 day moving average price of $108.25.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. The company had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.07 billion. During the same period last year, the firm posted $3.58 EPS. Sell-side analysts forecast that Discover Financial Services will post 11.39 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services's dividend payout ratio (DPR) is presently 31.93%.

Analyst Ratings Changes

DFS has been the subject of a number of research analyst reports. Barclays lifted their price target on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an "equal weight" rating in a research note on Friday, April 19th. Seaport Res Ptn lowered shares of Discover Financial Services from a "buy" rating to a "neutral" rating in a research note on Friday, March 15th. Royal Bank of Canada restated a "sector perform" rating and set a $140.00 target price (up from $117.00) on shares of Discover Financial Services in a research report on Wednesday, February 21st. HSBC boosted their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a "hold" rating in a research report on Thursday, March 21st. Finally, Wolfe Research restated a "peer perform" rating on shares of Discover Financial Services in a research report on Wednesday, February 21st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $126.29.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.

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