GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 182.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 36,555 shares of the financial services provider's stock after acquiring an additional 23,605 shares during the quarter. Discover Financial Services comprises about 1.1% of GABELLI & Co INVESTMENT ADVISERS INC.'s portfolio, making the stock its 26th largest position. GABELLI & Co INVESTMENT ADVISERS INC.'s holdings in Discover Financial Services were worth $6,332,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Discover Financial Services during the 4th quarter worth about $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services in the fourth quarter valued at approximately $34,000. Grove Bank & Trust boosted its position in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock worth $35,000 after purchasing an additional 89 shares in the last quarter. Bfsg LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Discover Financial Services in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 86.94% of the company's stock.
Analysts Set New Price Targets
Several analysts recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Barclays upped their price target on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a report on Tuesday. UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and upped their target price for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, Royal Bank of Canada boosted their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $188.40.
Read Our Latest Stock Analysis on DFS
Discover Financial Services Stock Up 2.3 %
Shares of DFS traded up $3.60 during mid-day trading on Friday, hitting $159.91. 1,106,264 shares of the company's stock were exchanged, compared to its average volume of 1,574,445. The stock's 50-day moving average is $171.42 and its 200-day moving average is $172.34. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a fifty-two week low of $119.95 and a fifty-two week high of $205.76. The company has a market cap of $40.23 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.51 and a beta of 1.20.
Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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%. On average, sell-side analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.
Discover Financial Services Announces Dividend
The business also recently disclosed 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 1.75%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio is presently 17.54%.
About Discover Financial Services
(
Free Report)
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.
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