Independent Advisor Alliance Invests $289,000 in Discover Financial Services (NYSE:DFS)

Independent Advisor Alliance acquired a new position in shares of Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,668 shares of the financial services provider's stock, valued at approximately $289,000.

Other hedge funds have also bought and sold shares of the company. Johnson Investment Counsel Inc. lifted its stake in shares of Discover Financial Services by 9.9% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,249 shares of the financial services provider's stock worth $563,000 after buying an additional 293 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Discover Financial Services by 91.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 200,795 shares of the financial services provider's stock worth $34,784,000 after buying an additional 95,755 shares in the last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Discover Financial Services by 5.8% in the fourth quarter. Atlantic Union Bankshares Corp now owns 28,202 shares of the financial services provider's stock worth $4,885,000 after buying an additional 1,545 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Discover Financial Services by 18.9% in the fourth quarter. Larson Financial Group LLC now owns 459 shares of the financial services provider's stock worth $80,000 after buying an additional 73 shares in the last quarter. Finally, Andra AP fonden lifted its stake in shares of Discover Financial Services by 34.4% in the fourth quarter. Andra AP fonden now owns 116,900 shares of the financial services provider's stock worth $20,251,000 after buying an additional 29,900 shares in the last quarter. Institutional investors own 86.94% of the company's stock.

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Discover Financial Services Stock Performance

DFS stock traded up $0.43 during midday trading on Friday, reaching $164.90. 1,942,331 shares of the company's stock traded hands, compared to its average volume of 1,408,346. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76. The stock has a market cap of $41.49 billion, a P/E ratio of 10.33, a PEG ratio of 1.51 and a beta of 1.45. 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 stock's 50-day moving average is $186.18 and its 200 day moving average is $168.64.

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%. As a group, analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The company 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 is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.70%. Discover Financial Services's dividend payout ratio (DPR) is presently 17.54%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DFS. Truist Financial dropped their target price on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a research note on Friday. Royal Bank of Canada upped their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a report on Friday, January 24th. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Finally, Barclays boosted their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $192.40.

Discover Financial Services 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.