Sequoia Financial Advisors LLC Acquires 1,963 Shares of Discover Financial Services (NYSE:DFS)

Sequoia Financial Advisors LLC increased its stake in Discover Financial Services (NYSE:DFS - Free Report) by 31.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,154 shares of the financial services provider's stock after purchasing an additional 1,963 shares during the period. Sequoia Financial Advisors LLC's holdings in Discover Financial Services were worth $1,412,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DFS. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services during the 3rd quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $33,000. Grove Bank & Trust increased its position in shares of Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 89 shares during the period. Bfsg LLC acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $35,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $37,000. Institutional investors own 86.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DFS shares. Wells Fargo & Company lifted their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a report on Friday, January 24th. Truist Financial lifted their target price on Discover Financial Services from $233.00 to $262.00 and gave the stock a "buy" rating in a report on Monday, January 27th. 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. Barclays raised their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, UBS Group raised 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. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $191.91.

Remove Ads

Discover Financial Services Stock Up 2.0 %

Discover Financial Services stock traded up $3.22 during mid-day trading on Wednesday, reaching $162.05. The company's stock had a trading volume of 2,431,755 shares, compared to its average volume of 1,405,916. The company has a market capitalization of $40.77 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth 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 business's 50 day simple moving average is $186.78 and its 200 day simple moving average is $168.54. 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 (NYSE:DFS - Get Free Report) last announced its quarterly earnings data 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 net margin of 17.29% and a return on equity of 26.18%. As a group, research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio is presently 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.