Harvest Fund Management Co. Ltd Purchases 2,029 Shares of Discover Financial Services (NYSE:DFS)

Harvest Fund Management Co. Ltd lifted its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 186.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,116 shares of the financial services provider's stock after buying an additional 2,029 shares during the period. Harvest Fund Management Co. Ltd's holdings in Discover Financial Services were worth $540,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in Discover Financial Services in the 4th quarter worth about $351,766,000. FMR LLC increased its position in shares of Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider's stock valued at $1,051,314,000 after acquiring an additional 558,227 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $39,067,000. Raymond James Financial Inc. bought a new stake in Discover Financial Services during the fourth quarter worth $38,489,000. Finally, Proficio Capital Partners LLC purchased a new position in Discover Financial Services in the fourth quarter worth $36,219,000. Institutional investors own 86.94% of the company's stock.

Discover Financial Services Trading Down 0.2 %

DFS traded down $0.27 during trading on Tuesday, hitting $169.86. 1,534,139 shares of the stock traded hands, compared to its average volume of 1,411,054. The firm has a market capitalization of $42.74 billion, a P/E ratio of 10.64, 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 company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a 50-day moving average of $186.06 and a 200 day moving average of $169.36.

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Discover Financial Services (NYSE:DFS - Get Free Report) last posted its earnings results 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 net margin of 17.29% and a return on equity of 26.18%. Equities research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm 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 $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 dividend yield of 1.65%. Discover Financial Services's dividend payout ratio is currently 17.54%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DFS. Wells Fargo & Company raised their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, January 24th. Truist Financial dropped their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research note on Friday, January 24th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $192.40.

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.