Stock Traders Purchase Large Volume of Discover Financial Services Put Options (NYSE:DFS)

Discover Financial Services (NYSE:DFS) saw unusually large options trading activity on Tuesday. Stock investors purchased 14,669 put options on the stock. This represents an increase of approximately 449% compared to the average daily volume of 2,673 put options.

Discover Financial Services Price Performance

Shares of NYSE DFS traded down $4.28 during midday trading on Friday, hitting $158.23. 1,303,675 shares of the company's stock were exchanged, compared to its average volume of 1,505,440. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The business's fifty day moving average price is $184.39 and its two-hundred day moving average price is $170.03. The company has a market cap of $39.81 billion, a price-to-earnings ratio of 9.91, a PEG 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.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping 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 forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.77%. Discover Financial Services's dividend payout ratio is presently 17.54%.

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Wall Street Analyst Weigh In

DFS has been the subject of several research reports. Truist Financial reduced their price objective on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a report on Friday, March 21st. Royal Bank of Canada boosted 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 report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Finally, 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 note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $192.40.

Institutional Investors Weigh In On Discover Financial Services

Several hedge funds have recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new position in shares of Discover Financial Services during the 4th quarter valued at about $41,000. CIBRA Capital Ltd purchased a new position in shares of Discover Financial Services during the fourth quarter worth approximately $4,855,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Discover Financial Services by 2.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 61,023 shares of the financial services provider's stock worth $10,571,000 after acquiring an additional 1,544 shares in the last quarter. Mattson Financial Services LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $34,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at $22,171,000. Institutional investors own 86.94% of the company's stock.

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.