Strategic Financial Concepts LLC Invests $281,000 in Discover Financial Services (NYSE:DFS)

Strategic Financial Concepts LLC bought a new stake in Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,621 shares of the financial services provider's stock, valued at approximately $281,000.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider's stock valued at $1,472,771,000 after purchasing an additional 80,601 shares during the period. FMR LLC boosted its position in shares of 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 buying an additional 558,227 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Discover Financial Services during the fourth quarter valued at $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Discover Financial Services by 0.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider's stock valued at $257,391,000 after purchasing an additional 12,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Discover Financial Services by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider's stock worth $242,460,000 after buying an additional 7,751 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial boosted their price target 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. UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Royal Bank of Canada boosted their price target on Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research report on Friday, January 24th. Evercore ISI boosted their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Finally, StockNews.com cut Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Discover Financial Services has a consensus rating of "Hold" and a consensus target price of $186.46.

Discover Financial Services Trading Down 2.8 %

NYSE DFS traded down $5.69 on Friday, reaching $194.21. The company had a trading volume of 2,476,043 shares, compared to its average volume of 1,652,495. The firm has a market cap of $48.81 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 1.53 and a beta of 1.46. Discover Financial Services has a fifty-two week low of $118.74 and a fifty-two week high of $205.76. The business has a 50 day moving average of $186.51 and a two-hundred day moving average of $162.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping 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%. Analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.44%. Discover Financial Services's payout ratio is currently 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.