Check out financial services (NYSE:DFS) Short interest down 7.1% in July

Discover financial services (NYSE: Homeless) benefited from a sharp fall in short-term interest rates during the month of July. As of July 31, there was short interest totaling 3,920,000 shares, down 7.1% from the July 15 total of 4,220,000 shares. Based on an average daily volume of 2,000,000 shares, the short-term interest rate ratio is currently 2.0 days. About 1.4% of the stock’s shares are sold short.

Check out financial services stocks down 0.0%

Shares of NYSE DFS opened at $108.47 on Friday. Discover Financial Services has a 52-week low of $88.02 and a 52-week high of $133.78. The company has a fifty-day moving average of $100.32 and a 200-day moving average of $108.70. The stock has a market capitalization of $29.63 billion, a PE ratio of 7.06, a P/E/G ratio of 0.24 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt ratio of 1.43.

Discover financial services (NYSE: HomelessGet a rating) last reported quarterly earnings data on Wednesday, July 20. The financial services provider reported earnings per share (EPS) of $3.96 for the quarter, beating the consensus estimate of $3.77 by $0.19. Discover Financial Services posted a net margin of 34.89% and a return on equity of 36.35%. The company posted revenue of $3.22 billion in the quarter, versus $3.18 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $5.55. The company’s quarterly revenue was down 9.9% from the same quarter last year. On average, analysts expect Discover Financial Services to post 15.32 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 8. Shareholders of record on Thursday, August 25 will receive a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 24. This represents an annualized dividend of $2.40 and a dividend yield of 2.21%. Discover Financial Services’ dividend payout ratio is currently 15.63%.

A Wall Street analyst gives his opinion

Several brokerages have recently published reports on DFS. Credit Suisse Group lowered its price target on Discover Financial Services to $134.00 in a Friday, July 22 research report. Keefe, Bruyette & Woods reduced their price target on Discover Financial Services from $150.00 to $135.00 in a Monday, July 11 research report. Barclays cut its price target on Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating for the company in a Friday July 22 research report. Wolfe Research downgraded Discover Financial Services from an “outperform” rating to a “peer performer” rating and set a price target of $97.00 for the company. in a research report on Thursday, May 12. Finally, Bank of America reduced its price target on Discover Financial Services from $128.00 to $120.00 in a Sunday, July 24 research report. Seven analysts gave the stock a hold rating and nine gave the company a buy rating. Based on MarketBeat data, Discover Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $127.56.

Discover Financial Services Institutional Trading

Institutional investors have recently changed their positions in the stock. Tyler Stone Wealth Management acquired a new stake in Discover Financial Services during Q4 worth $27,000. Ronald Blue Trust Inc. acquired a new stake in Discover Financial Services during the 2nd quarter at a value of $28,000. Northern Oak Wealth Management Inc. increased its position in Discover Financial Services by 200.0% during the second quarter. Northern Oak Wealth Management Inc. now owns 300 shares of the financial services provider worth $28,000 after purchasing an additional 200 shares during the period. GHE LLC acquired a new stake in Discover Financial Services during the 2nd quarter at a value of $33,000. Finally, Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in Discover Financial Services during Q2 worth $38,000. 85.53% of the shares are held by hedge funds and other institutional investors.

About Explore Financial Services

(Get a rating)

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 loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.

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