Woodmont Investment Counsel LLC bought a new stake in shares of Discover Financial Services (NYSE:DFS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,654 shares of the financial services provider's stock, valued at approximately $287,000.
Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Discover Financial Services in the fourth quarter valued at about $38,489,000. Nomura Asset Management Co. Ltd. lifted its holdings in Discover Financial Services by 10.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider's stock worth $16,202,000 after purchasing an additional 10,946 shares in the last quarter. Brookstone Capital Management bought a new position in Discover Financial Services in the 4th quarter worth approximately $282,000. Meyer Handelman Co. purchased a new stake in Discover Financial Services during the 4th quarter valued at approximately $239,000. Finally, Mechanics Bank Trust Department bought a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $234,000. Institutional investors own 86.94% of the company's stock.
Analyst Upgrades and Downgrades
DFS has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Friday, January 24th. Truist Financial decreased their target price on Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Royal Bank of Canada raised their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a report on Friday, January 24th. Finally, Wells Fargo & Company lifted their price objective on 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services presently has an average rating of "Hold" and an average price target of $192.40.
Check Out Our Latest Analysis on DFS
Discover Financial Services Trading Down 2.6 %
Shares of NYSE DFS traded down $4.28 during trading hours on Friday, hitting $158.23. 1,303,675 shares of the company traded hands, compared to its average volume of 1,505,440. The company's 50 day moving average price is $184.39 and its 200 day moving average price is $170.03. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The stock has a market capitalization of $39.81 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.
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 earnings per share 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%. On average, equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.
Discover Financial Services Announces Dividend
The company also recently disclosed 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. This represents a $2.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is currently 17.54%.
Discover Financial Services Company Profile
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Free Report)
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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