Wells Fargo & Company MN Sells 115,601 Shares of Discover Financial Services (NYSE:DFS)

Wells Fargo & Company MN lessened its holdings in Discover Financial Services (NYSE:DFS) by 23.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,419 shares of the financial services provider’s stock after selling 115,601 shares during the period. Wells Fargo & Company MN’s holdings in Discover Financial Services were worth $63,821,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in DFS. SBI Securities Co. Ltd. bought a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $33,000. Flagship Wealth Advisors LLC bought a new stake in Discover Financial Services during the fourth quarter worth $34,000. Bfsg LLC purchased a new stake in Discover Financial Services in the 4th quarter valued at $35,000. Grove Bank & Trust lifted its stake in Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in Discover Financial Services during the 4th quarter worth $37,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

NYSE DFS opened at $148.07 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company has a market cap of $37.26 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The firm’s 50-day simple moving average is $178.26 and its two-hundred day simple moving average is $171.35.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DFS shares. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $150.00 to $239.00 in a report on Monday, January 13th. JPMorgan Chase & Co. cut their target price on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday. Wells Fargo & Company increased their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Barclays raised their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $188.40.

Discover Financial Services Company 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.