Greenland Capital Management LP Buys 42,157 Shares of Discover Financial Services (NYSE:DFS)

Greenland Capital Management LP lifted its stake in Discover Financial Services (NYSE:DFS - Free Report) by 421.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,157 shares of the financial services provider's stock after purchasing an additional 42,157 shares during the quarter. Discover Financial Services comprises approximately 1.5% of Greenland Capital Management LP's holdings, making the stock its 14th largest position. Greenland Capital Management LP's holdings in Discover Financial Services were worth $9,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Abacus FCF Advisors LLC increased its holdings in shares of Discover Financial Services by 98.8% during the fourth quarter. Abacus FCF Advisors LLC now owns 33,629 shares of the financial services provider's stock valued at $5,826,000 after acquiring an additional 16,710 shares in the last quarter. Bank of Nova Scotia grew its position in Discover Financial Services by 208.9% during the 4th quarter. Bank of Nova Scotia now owns 561,405 shares of the financial services provider's stock valued at $97,252,000 after purchasing an additional 379,673 shares during the last quarter. FIL Ltd increased its stake in Discover Financial Services by 92.3% during the 4th quarter. FIL Ltd now owns 6,324 shares of the financial services provider's stock valued at $1,096,000 after purchasing an additional 3,036 shares in the last quarter. Invesco Ltd. raised its holdings in Discover Financial Services by 38.5% in the fourth quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider's stock worth $515,268,000 after buying an additional 826,287 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Discover Financial Services by 0.8% in the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider's stock worth $1,308,409,000 after buying an additional 59,154 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company's stock.

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Analysts Set New Price Targets

DFS has been the subject of several analyst reports. Wells Fargo & Company raised their price target 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. Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a report on Friday, January 24th. StockNews.com downgraded Discover Financial Services from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Barclays lifted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $188.40.

Discover Financial Services Stock Performance

Shares of NYSE DFS traded down $1.64 during midday trading on Friday, hitting $156.98. 1,581,144 shares of the company's stock traded hands, compared to its average volume of 1,582,131. The firm has a fifty day moving average of $175.40 and a 200 day moving average of $172.09. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The stock has a market capitalization of $39.50 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced 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 net margin of 17.29% and a return on equity of 26.18%. On average, analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current 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 paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.78%. Discover Financial Services's dividend payout ratio (DPR) is 17.54%.

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.