Discover Financial Services (NYSE:DFS) Position Boosted by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC increased its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 98.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,629 shares of the financial services provider's stock after acquiring an additional 16,710 shares during the quarter. Abacus FCF Advisors LLC's holdings in Discover Financial Services were worth $5,826,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Discover Financial Services by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider's stock worth $5,377,961,000 after acquiring an additional 290,937 shares during the period. FMR LLC raised its stake in Discover Financial Services by 0.8% during the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider's stock worth $1,308,409,000 after purchasing an additional 59,154 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Discover Financial Services by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider's stock valued at $1,082,826,000 after purchasing an additional 165,589 shares during the last quarter. Norges Bank purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at $724,720,000. Finally, Invesco Ltd. increased its holdings in shares of Discover Financial Services by 38.5% during the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider's stock worth $515,268,000 after buying an additional 826,287 shares during the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

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Discover Financial Services Stock Down 1.0 %

Discover Financial Services stock traded down $1.64 during midday trading on Friday, hitting $156.98. 1,581,144 shares of the stock were exchanged, compared to its average volume of 1,582,131. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market cap of $39.50 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a 50 day moving average price of $175.40 and a two-hundred day moving average price of $172.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict 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 announced 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. This represents a $2.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is currently 17.54%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DFS. Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Barclays increased their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Truist Financial reduced 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 report on Friday, March 21st. Finally, StockNews.com lowered shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. 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, the company presently has an average rating of "Hold" and an average price target of $188.40.

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.