Alliancebernstein L.P. Sells 71,508 Shares of Discover Financial Services (NYSE:DFS)

Alliancebernstein L.P. trimmed its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 9.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 666,352 shares of the financial services provider's stock after selling 71,508 shares during the period. Alliancebernstein L.P. owned 0.27% of Discover Financial Services worth $115,432,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services during the third quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in Discover Financial Services in the 4th quarter worth approximately $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services during the 4th quarter worth $34,000. Grove Bank & Trust lifted its holdings in Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock worth $35,000 after buying an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new position in Discover Financial Services in the 4th quarter valued at $35,000. Institutional investors own 86.94% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DFS shares. Truist Financial cut their price target on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Royal Bank of Canada upped their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. StockNews.com lowered shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. UBS Group raised shares of Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a research note 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $192.40.

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Discover Financial Services Trading Up 2.5 %

DFS stock traded up $3.74 during midday trading on Monday, hitting $150.78. 2,951,183 shares of the company's stock were exchanged, compared to its average volume of 1,564,643. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76. The stock's fifty day moving average price is $180.36 and its 200-day moving average price is $171.47. The company has a market cap of $37.94 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. 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 issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

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 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio is 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.