Chevy Chase Trust Holdings LLC Decreases Stake in Discover Financial Services (NYSE:DFS)

Chevy Chase Trust Holdings LLC cut its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,929 shares of the financial services provider's stock after selling 2,880 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Discover Financial Services worth $22,854,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DFS. Creative Planning lifted its stake in Discover Financial Services by 0.8% in the third quarter. Creative Planning now owns 64,476 shares of the financial services provider's stock worth $9,045,000 after acquiring an additional 517 shares during the period. Global Retirement Partners LLC lifted its stake in Discover Financial Services by 10.5% in the third quarter. Global Retirement Partners LLC now owns 9,603 shares of the financial services provider's stock worth $1,347,000 after acquiring an additional 912 shares during the period. Bleakley Financial Group LLC raised its holdings in Discover Financial Services by 2.8% in the third quarter. Bleakley Financial Group LLC now owns 6,429 shares of the financial services provider's stock worth $902,000 after purchasing an additional 174 shares in the last quarter. Trust Co. of Vermont raised its holdings in Discover Financial Services by 40.0% in the third quarter. Trust Co. of Vermont now owns 2,800 shares of the financial services provider's stock worth $393,000 after purchasing an additional 800 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Discover Financial Services by 2.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,361 shares of the financial services provider's stock worth $4,961,000 after purchasing an additional 803 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DFS has been the subject of a number of recent research reports. Truist Financial boosted their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a "buy" rating in a report on Monday, January 27th. 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. StockNews.com downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Evercore ISI upped their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $186.46.

Discover Financial Services Stock Performance

Discover Financial Services stock traded up $7.06 during mid-day trading on Wednesday, hitting $203.34. The company had a trading volume of 1,841,908 shares, compared to its average volume of 1,626,287. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12-month low of $118.74 and a 12-month high of $205.76. The company's fifty day moving average is $185.51 and its 200-day moving average is $161.88. The company has a market capitalization of $51.10 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.60 and a beta of 1.46.

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, 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%. Equities research analysts predict that Discover Financial Services will post 13.84 EPS for the current year.

Discover Financial Services Announces Dividend

The company 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 dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is 17.54%.

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.