Fmr LLC Buys 59,154 Shares of Discover Financial Services (NYSE:DFS)

FMR LLC increased its position in Discover Financial Services (NYSE:DFS - Free Report) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,553,016 shares of the financial services provider's stock after buying an additional 59,154 shares during the quarter. FMR LLC owned 3.01% of Discover Financial Services worth $1,308,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DFS. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. purchased a new position in Discover Financial Services in the 4th quarter worth $33,000. Flagship Wealth Advisors LLC bought a new stake in Discover Financial Services in the fourth quarter worth $34,000. Grove Bank & Trust boosted its position in 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 buying an additional 89 shares during the period. Finally, Bfsg LLC bought a new position in shares of Discover Financial Services during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 86.94% of the company's stock.

Discover Financial Services Stock Down 1.0 %

DFS traded down $1.64 on Friday, hitting $156.98. The company had a trading volume of 1,581,144 shares, compared to its average volume of 1,579,890. The stock has a fifty day simple moving average of $175.40 and a 200-day simple moving average of $171.86. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market capitalization of $39.50 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76.

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Discover Financial Services (NYSE:DFS - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating 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%. As a group, equities analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders 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 dividend yield of 1.78%. 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

DFS has been the subject of a number of recent research reports. UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their target price for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Royal Bank of Canada increased their price objective on 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. Barclays lifted their target price 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. Truist Financial dropped 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 research report on Friday, March 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services has an average rating of "Hold" and a consensus target price of $188.40.

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.