Factorial Partners LLC Cuts Stock Holdings in Discover Financial Services (NYSE:DFS)

Factorial Partners LLC cut its position in shares of Discover Financial Services (NYSE:DFS) by 39.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,000 shares of the financial services provider’s stock after selling 10,600 shares during the period. Discover Financial Services accounts for 1.6% of Factorial Partners LLC’s holdings, making the stock its 27th biggest position. Factorial Partners LLC’s holdings in Discover Financial Services were worth $2,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Discover Financial Services in the 3rd quarter valued at $30,000. Grove Bank & Trust lifted its holdings in Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Bfsg LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $35,000. Hantz Financial Services Inc. purchased a new stake in shares of Discover Financial Services during the fourth quarter worth about $37,000. Finally, Venturi Wealth Management LLC raised its position in shares of Discover Financial Services by 27.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $195.38 on Friday. The firm has a 50 day simple moving average of $188.81 and a 200-day simple moving average of $165.25. The stock has a market cap of $49.16 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a 1-year low of $118.74 and a 1-year high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, analysts expect that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Wall Street Analyst Weigh In

Several research firms have commented on DFS. Truist Financial boosted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Company raised their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Royal Bank of Canada upped their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $191.91.

Discover Financial Services Profile

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; 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.