Cannon Global Investment Management LLC Takes Position in Discover Financial Services (NYSE:DFS)

Cannon Global Investment Management LLC purchased a new position in Discover Financial Services (NYSE:DFS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,500 shares of the financial services provider's stock, valued at approximately $1,472,000. Discover Financial Services makes up 3.2% of Cannon Global Investment Management LLC's investment portfolio, making the stock its 4th largest holding.

Several other institutional investors also recently bought and sold shares of DFS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services during the third quarter valued at $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at about $33,000. Flagship Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $34,000. Grove Bank & Trust raised its holdings in shares of Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in Discover Financial Services in the fourth quarter worth approximately $35,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Trading Down 0.2 %

Shares of DFS stock traded down $0.27 on Tuesday, reaching $169.86. 1,534,139 shares of the company's stock were exchanged, compared to its average volume of 1,412,159. The company's fifty day simple moving average is $185.84 and its 200 day simple moving average is $169.65. Discover Financial Services has a 52 week low of $119.31 and a 52 week 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 stock has a market capitalization of $42.74 billion, a PE ratio of 10.64, a P/E/G ratio of 1.51 and a beta of 1.45.

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Discover Financial Services (NYSE:DFS - Get Free Report) last issued its earnings results 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 net margin of 17.29% and a return on equity of 26.18%. As a group, analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is presently 17.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DFS. Barclays increased their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Truist Financial cut 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 research report on Friday. UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and raised their target price for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $192.40.

Discover Financial Services 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.