Discover Financial Services (NYSE:DFS) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 205,398 shares of the financial services provider's stock after selling 5,698 shares during the period. Truist Financial Corp owned 0.08% of Discover Financial Services worth $35,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of DFS. Creative Planning increased its position in Discover Financial Services by 0.8% during the third quarter. Creative Planning now owns 64,476 shares of the financial services provider's stock worth $9,045,000 after purchasing an additional 517 shares during the last quarter. Blue Trust Inc. grew its stake in Discover Financial Services by 115.7% during the third quarter. Blue Trust Inc. now owns 1,234 shares of the financial services provider's stock worth $161,000 after buying an additional 662 shares during the period. Raymond James & Associates grew its stake in Discover Financial Services by 12.7% during the third quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider's stock worth $20,954,000 after buying an additional 16,863 shares during the period. OLD National Bancorp IN grew its stake in Discover Financial Services by 74.3% during the third quarter. OLD National Bancorp IN now owns 5,007 shares of the financial services provider's stock worth $703,000 after buying an additional 2,135 shares during the period. Finally, Raleigh Capital Management Inc. grew its stake in Discover Financial Services by 37.5% during the third quarter. Raleigh Capital Management Inc. now owns 1,035 shares of the financial services provider's stock worth $145,000 after buying an additional 282 shares during the period. Institutional investors and hedge funds own 86.94% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DFS shares. StockNews.com downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research note on Friday, January 24th. Barclays boosted their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Royal Bank of Canada boosted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research note on Friday, January 24th. Finally, Truist Financial upped their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $186.46.

Discover Financial Services Stock Down 2.8 %

NYSE DFS traded down $5.69 during trading hours on Friday, reaching $194.21. 2,476,043 shares of the company traded hands, compared to its average volume of 1,652,495. Discover Financial Services has a 12 month low of $118.74 and a 12 month high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $48.81 billion, a PE ratio of 12.17, a PEG ratio of 1.53 and a beta of 1.46. The company has a 50 day moving average of $186.51 and a two-hundred day moving average of $162.43.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating 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%. As a group, equities analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.44%. Discover Financial Services's dividend payout ratio (DPR) is 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.