Phoenix Financial Ltd. acquired a new position in Discover Financial Services (NYSE:DFS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,896 shares of the financial services provider's stock, valued at approximately $3,273,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in Discover Financial Services in the fourth quarter valued at about $33,000. Flagship Wealth Advisors LLC bought a new position in Discover Financial Services in the fourth quarter valued at $34,000. Grove Bank & Trust lifted its stake in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Bfsg LLC bought a new position in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. bought a new position in Discover Financial Services in the 4th quarter valued at about $37,000. 86.94% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on DFS shares. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. Barclays increased their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Wells Fargo & Company boosted their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group upgraded shares of Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their target price for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $188.40.
Check Out Our Latest Stock Analysis on DFS
Discover Financial Services Trading Down 0.6 %
Shares of DFS traded down $0.92 during mid-day trading on Wednesday, reaching $159.22. 174,453 shares of the company were exchanged, compared to its average volume of 1,574,661. The business has a 50 day simple moving average of $173.69 and a two-hundred day simple moving average of $172.15. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The stock has a market capitalization of $40.06 billion, a PE ratio of 9.98, a PEG ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.
Discover Financial Services (NYSE:DFS - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.
Discover Financial Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.76%. Discover Financial Services's dividend payout ratio (DPR) is presently 17.54%.
Discover Financial Services Company Profile
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Free Report)
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.
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