Discover Financial Services (NYSE:DFS) Shares Bought by LPL Financial LLC

LPL Financial LLC increased its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 29.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,282 shares of the financial services provider's stock after acquiring an additional 39,545 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Discover Financial Services worth $30,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Discover Financial Services in the fourth quarter valued at $351,766,000. Strategic Financial Concepts LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $39,067,000. Raymond James Financial Inc. purchased a new stake in Discover Financial Services in the 4th quarter valued at about $38,489,000. Proficio Capital Partners LLC acquired a new position in Discover Financial Services in the fourth quarter valued at about $36,219,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Discover Financial Services during the fourth quarter worth about $27,912,000. Hedge funds and other institutional investors own 86.94% of the company's stock.

Discover Financial Services Price Performance

DFS traded down $23.01 on Thursday, hitting $152.93. 621,010 shares of the company were exchanged, compared to its average volume of 1,987,861. The business's fifty day moving average is $183.24 and its 200 day moving average is $170.92. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week 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 firm has a market capitalization of $38.48 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

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Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly 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 return on equity of 26.18% and a net margin of 17.29%. As a group, sell-side analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's payout ratio is 17.54%.

Analyst Upgrades and Downgrades

DFS has been the topic of a number of research analyst reports. Truist Financial reduced their price target 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, March 21st. JPMorgan Chase & Co. upped their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. 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. StockNews.com downgraded Discover Financial Services from a "buy" rating to a "hold" rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $192.40.

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.