Discover Financial Services (NYSE:DFS) Position Raised by Fmr LLC

Fmr LLC lifted its position in Discover Financial Services (NYSE:DFS) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,553,016 shares of the financial services provider’s stock after buying an additional 59,154 shares during the period. Fmr LLC owned approximately 3.01% of Discover Financial Services worth $1,308,409,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DFS. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Discover Financial Services during the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services in the fourth quarter worth approximately $33,000. Flagship Wealth Advisors LLC bought a new position in shares of Discover Financial Services in the fourth quarter valued at $34,000. Grove Bank & Trust lifted its position in shares of 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 during the last quarter. Finally, Bfsg LLC acquired a new position in shares of Discover Financial Services in the 4th quarter worth $35,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Down 9.0 %

NYSE DFS opened at $146.77 on Monday. The firm’s fifty day simple moving average is $181.35 and its 200-day simple moving average is $171.43. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76. The company has a market capitalization of $36.93 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20.

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 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%. As a group, sell-side analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.91%. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Wall Street Analyst Weigh In

DFS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Company raised their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Royal Bank of Canada lifted 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 research report on Friday, January 24th. Barclays upped their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Truist Financial lowered their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services presently has an average rating of “Hold” and an average price target of $192.40.

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; 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.