Adams Diversified Equity Fund Inc. purchased a new stake in shares of Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 77,900 shares of the financial services provider's stock, valued at approximately $13,495,000.
A number of other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Discover Financial Services during the 4th quarter valued at $33,000. Flagship Wealth Advisors LLC bought a new stake in Discover Financial Services during the fourth quarter valued at about $34,000. Bfsg LLC purchased a new position in shares of Discover Financial Services in the fourth quarter valued at about $35,000. Grove Bank & Trust boosted its stake in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock worth $35,000 after acquiring an additional 89 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services during the third quarter worth about $30,000. 86.94% of the stock is currently owned by institutional investors.
Discover Financial Services Price Performance
Shares of NYSE DFS traded down $0.27 during mid-day trading on Tuesday, hitting $169.86. 1,534,139 shares of the company's stock traded hands, compared to its average volume of 1,411,054. 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 $119.31 and a 1 year high of $205.76. The company's 50-day moving average is $186.06 and its two-hundred day moving average is $169.36. The company has a market capitalization of $42.74 billion, a P/E ratio of 10.64, a PEG ratio of 1.51 and a beta of 1.45.
Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, equities analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.
Discover Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.65%. Discover Financial Services's dividend payout ratio is presently 17.54%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on DFS. StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Royal Bank of Canada boosted 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. Keefe, Bruyette & Woods upped their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a report on Friday, January 24th. Finally, Truist Financial dropped their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a report on Friday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $192.40.
Read Our Latest Stock Analysis on DFS
Discover Financial Services Profile
(
Free Report)
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.
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