Canada Post Corp Registered Pension Plan Makes New Investment in Discover Financial Services (NYSE:DFS)

Canada Post Corp Registered Pension Plan acquired a new stake in shares of Discover Financial Services (NYSE:DFS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,784 shares of the financial services provider's stock, valued at approximately $2,734,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Discover Financial Services during the 4th quarter valued at about $38,489,000. Brookstone Capital Management bought a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $282,000. Meyer Handelman Co. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $239,000. Mechanics Bank Trust Department bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $234,000. Finally, JBGlobal.com LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $346,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. Truist Financial dropped their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. 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. StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $188.40.

Discover Financial Services Price Performance

NYSE:DFS traded up $3.60 during mid-day trading on Friday, reaching $159.91. 1,106,264 shares of the stock were exchanged, compared to its average volume of 1,574,548. Discover Financial Services has a 1-year low of $119.95 and a 1-year high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $40.23 billion, a PE ratio of 10.02, a PEG ratio of 1.51 and a beta of 1.20. The business has a fifty day moving average price of $171.42 and a 200 day moving average price of $172.84.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping 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 expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is 17.54%.

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.