Discover Financial Services (NYSE:DFS) Stock Position Lowered by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in Discover Financial Services (NYSE:DFS - Free Report) by 42.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 389,723 shares of the financial services provider's stock after selling 281,846 shares during the quarter. Bank of Montreal Can owned approximately 0.16% of Discover Financial Services worth $67,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DFS. SBI Securities Co. Ltd. purchased a new stake in Discover Financial Services during the 4th quarter worth $33,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $34,000. Grove Bank & Trust grew 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 valued at $35,000 after buying an additional 89 shares in the last quarter. Bfsg LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at about $35,000. Finally, Hantz Financial Services Inc. purchased a new position in Discover Financial Services in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.94% of the company's stock.

Discover Financial Services Price Performance

DFS stock traded up $3.34 during trading on Tuesday, hitting $162.41. The company had a trading volume of 186,779 shares, compared to its average volume of 1,574,143. The firm has a market capitalization of $40.86 billion, a price-to-earnings ratio of 10.16, a P/E/G ratio of 1.51 and a beta of 1.20. 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 business has a 50 day moving average of $174.55 and a 200 day moving average of $172.23. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76.

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

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders 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 yield of 1.72%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's payout ratio is 17.54%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays upped their price objective 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. UBS Group raised shares of Discover Financial Services from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Tuesday. Truist Financial decreased their price target 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, March 21st. Finally, Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Discover Financial Services currently 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.