Strategic Financial Concepts LLC Makes New Investment in Discover Financial Services (NYSE:DFS)

Strategic Financial Concepts LLC purchased a new stake in Discover Financial Services (NYSE:DFS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 225,520 shares of the financial services provider's stock, valued at approximately $39,067,000. Strategic Financial Concepts LLC owned about 0.09% of Discover Financial Services at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in shares of Discover Financial Services by 0.8% during the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider's stock worth $1,472,771,000 after buying an additional 80,601 shares in the last quarter. FMR LLC boosted its position in Discover Financial Services by 8.0% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Discover Financial Services by 0.7% in the 3rd 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 worth $257,391,000 after acquiring an additional 12,255 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Discover Financial Services by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider's stock valued at $242,460,000 after acquiring an additional 7,751 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Discover Financial Services by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,980 shares of the financial services provider's stock worth $149,266,000 after purchasing an additional 4,594 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Discover Financial Services Stock Down 0.2 %

DFS traded down $0.46 during trading hours on Tuesday, reaching $194.95. 1,408,272 shares of the stock traded hands, compared to its average volume of 1,449,110. Discover Financial Services has a fifty-two week low of $107.10 and a fifty-two week high of $205.76. The company has a market cap of $48.99 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.63 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm's fifty day simple moving average is $183.54 and its two-hundred day simple moving average is $159.60.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that Discover Financial Services will post 13.57 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. 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 1.44%. Discover Financial Services's dividend payout ratio is presently 17.54%.

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.