Trust Point Inc. Invests $220,000 in Discover Financial Services (NYSE:DFS)

Trust Point Inc. bought a new stake in Discover Financial Services (NYSE:DFS - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,269 shares of the financial services provider's stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC raised 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 valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Discover Financial Services by 1,272.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider's stock valued at $37,199,000 after acquiring an additional 245,829 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Discover Financial Services during the 3rd quarter worth about $21,169,000. KBC Group NV lifted its stake in Discover Financial Services by 19.0% during the fourth quarter. KBC Group NV now owns 924,033 shares of the financial services provider's stock worth $160,070,000 after purchasing an additional 147,558 shares during the last quarter. Finally, Westchester Capital Management LLC acquired a new position in Discover Financial Services in the third quarter valued at approximately $15,784,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Trading Up 0.5 %

Shares of Discover Financial Services stock opened at $202.91 on Friday. The firm has a market cap of $50.99 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. Discover Financial Services has a 52-week low of $104.08 and a 52-week high of $205.76. The company's 50-day simple moving average is $182.48 and its 200-day simple moving average is $158.22. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last released 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 return on equity of 26.18% and a net margin of 17.29%. As a group, equities research analysts anticipate that Discover Financial Services will post 13.39 earnings per share for the current year.

Discover Financial Services Announces Dividend

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 $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is currently 17.54%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of 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. Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Truist Financial upped their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company lifted their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services has a consensus rating of "Hold" and a consensus price target of $182.64.

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.

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