CIBC Asset Management Inc Buys 1,640 Shares of Discover Financial Services (NYSE:DFS)

CIBC Asset Management Inc lifted its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,536 shares of the financial services provider's stock after purchasing an additional 1,640 shares during the period. CIBC Asset Management Inc's holdings in Discover Financial Services were worth $6,676,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Discover Financial Services by 0.8% in the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider's stock valued at $1,472,771,000 after purchasing an additional 80,601 shares during the period. FMR LLC boosted its stake in Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider's stock valued at $1,051,314,000 after acquiring an additional 558,227 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Discover Financial Services during the fourth quarter valued at $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Discover Financial Services by 0.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider's stock worth $257,391,000 after acquiring an additional 12,255 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Discover Financial Services by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider's stock valued at $242,460,000 after purchasing an additional 7,751 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

Shares of NYSE DFS traded down $6.23 during midday trading on Friday, hitting $193.68. 887,742 shares of the company's stock were exchanged, compared to its average volume of 1,602,914. The firm has a market capitalization of $48.67 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.46. The company's 50 day moving average price is $186.51 and its 200 day moving average price is $162.43. The company has a quick ratio of 1.03, a current ratio of 1.09 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.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings results 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 fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.45%. Discover Financial Services's dividend payout ratio is currently 17.54%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DFS. Royal Bank of Canada raised their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Barclays lifted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Evercore ISI upped their price target on Discover Financial Services from $156.00 to $163.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $186.46.

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.