Cibc World Markets Corp Sells 8,978 Shares of Discover Financial Services (NYSE:DFS)

Cibc World Markets Corp trimmed its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,639 shares of the financial services provider's stock after selling 8,978 shares during the period. Cibc World Markets Corp's holdings in Discover Financial Services were worth $6,867,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DFS. Raymond James Financial Inc. bought a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $38,489,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Discover Financial Services by 10.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider's stock valued at $16,202,000 after acquiring an additional 10,946 shares during the period. Brookstone Capital Management bought a new stake in Discover Financial Services in the 4th quarter valued at $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services in the 4th quarter valued at $239,000. Finally, Mechanics Bank Trust Department bought a new stake in Discover Financial Services in the 4th quarter valued at $234,000. Institutional investors own 86.94% of the company's stock.

Discover Financial Services Trading Up 0.3 %

DFS stock traded up $0.43 during trading on Friday, hitting $164.90. The company had a trading volume of 1,942,331 shares, compared to its average volume of 1,408,346. The stock has a market cap of $41.49 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $186.18 and a 200-day moving average price of $168.64.

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Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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, 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 disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.70%. Discover Financial Services's dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

Several research analysts recently commented on DFS shares. StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their target price on Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. UBS Group upgraded 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 research report on Monday, January 13th. Finally, Truist Financial cut their price objective on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $192.40.

Discover Financial Services Company 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.