Rhumbline Advisers Cuts Holdings in Discover Financial Services (NYSE:DFS)

Rhumbline Advisers cut its stake in Discover Financial Services (NYSE:DFS - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 508,242 shares of the financial services provider's stock after selling 4,051 shares during the period. Rhumbline Advisers owned about 0.20% of Discover Financial Services worth $88,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Discover Financial Services during the fourth quarter worth about $351,766,000. FMR LLC lifted its stake in Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider's stock worth $1,051,314,000 after acquiring an additional 558,227 shares during the last quarter. Mizuho Securities USA LLC grew its holdings in Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider's stock worth $37,199,000 after acquiring an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $39,067,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Discover Financial Services in the 3rd quarter valued at $21,169,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DFS. Truist Financial upped their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Barclays upped their target price 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. Finally, Wells Fargo & Company increased their target price 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. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $186.46.

Discover Financial Services Stock Performance

DFS stock traded up $7.06 during trading on Wednesday, hitting $203.34. The company had a trading volume of 1,841,954 shares, compared to its average volume of 1,626,378. Discover Financial Services has a 1-year low of $118.74 and a 1-year high of $205.76. The firm has a 50-day moving average price of $185.51 and a 200-day moving average price of $161.88. 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 market cap of $51.10 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.60 and a beta of 1.46.

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 EPS for the quarter, topping the consensus estimate 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, analysts expect that Discover Financial Services will post 13.84 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently announced 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. This represents a $2.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is presently 17.54%.

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.