[ad_1]
Raymond James Financial Inc. bought a new stake in shares of Discover Financial Services (NYSE:DFS – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 222,186 shares of the financial services provider’s stock, valued at approximately $38,489,000. Raymond James Financial Inc. owned 0.09% of Discover Financial Services at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in shares of Discover Financial Services by 1.6% in the fourth quarter. Arizona State Retirement System now owns 72,924 shares of the financial services provider’s stock valued at $12,633,000 after purchasing an additional 1,128 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $209,000. Atria Investments Inc grew its holdings in shares of Discover Financial Services by 10.9% in the fourth quarter. Atria Investments Inc now owns 14,177 shares of the financial services provider’s stock valued at $2,456,000 after purchasing an additional 1,394 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Discover Financial Services by 17.3% in the fourth quarter. Assetmark Inc. now owns 677 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 100 shares in the last quarter. Finally, Smithfield Trust Co grew its holdings in shares of Discover Financial Services by 78.5% in the fourth quarter. Smithfield Trust Co now owns 821 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 361 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on DFS shares. Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada lifted 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 report on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Nine research 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 currently has an average rating of “Hold” and a consensus target price of $191.91.
Read Our Latest Stock Report on DFS
Discover Financial Services Stock Up 3.8 %
Shares of NYSE:DFS opened at $163.71 on Thursday. The company has a market capitalization of $41.19 billion, a PE ratio of 10.26, a P/E/G 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 has a twelve month low of $119.31 and a twelve month high of $205.76. The firm has a 50 day simple moving average of $188.22 and a 200-day simple moving average of $167.66.
Discover Financial Services (NYSE:DFS – Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate 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 analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.
Discover Financial Services Dividend Announcement
The firm also recently declared 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 is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.71%. Discover Financial Services’s dividend payout ratio (DPR) is 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.
Further Reading
Receive News & Ratings for Discover Financial Services Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Discover Financial Services and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link