Integrated Quantitative Investments LLC Takes $423,000 Position in Discover Financial Services (NYSE:DFS)

Integrated Quantitative Investments LLC acquired a new stake in shares of Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,440 shares of the financial services provider's stock, valued at approximately $423,000.

Several other hedge funds have also recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Discover Financial Services in the third quarter valued at $30,000. SBI Securities Co. Ltd. bought a new position in Discover Financial Services during the fourth quarter valued at $33,000. Flagship Wealth Advisors LLC purchased a new position in shares of Discover Financial Services in the 4th quarter worth $34,000. Grove Bank & Trust increased its holdings in shares of Discover Financial Services by 78.1% in 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 during the last quarter. Finally, Bfsg LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 86.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DFS. StockNews.com downgraded Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. UBS Group upgraded Discover Financial Services from a "neutral" rating to a "buy" rating and raised their price target for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Wells Fargo & Company boosted their price objective 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. Truist Financial lowered their target price on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating for the company in a report on Friday, March 21st. Finally, Barclays upped their price target 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $188.40.

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Discover Financial Services Stock Down 8.6 %

Shares of NYSE DFS traded down $14.75 during mid-day trading on Thursday, reaching $156.10. 571,963 shares of the company were exchanged, compared to its average volume of 2,111,498. The stock has a market cap of $39.28 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average of $177.04 and a 200 day moving average of $171.56.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 26.18% and a net margin of 17.29%. On average, research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current 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 issued 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 1.79%. Discover Financial Services's dividend payout ratio (DPR) is presently 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.