Merit Financial Group LLC Invests $221,000 in Discover Financial Services (NYSE:DFS)

Merit Financial Group LLC purchased a new stake in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,277 shares of the financial services provider’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC increased its position in shares of 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 period. Mizuho Securities USA LLC grew its stake in Discover Financial Services by 1,272.0% in the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after purchasing an additional 245,829 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Discover Financial Services during the 3rd quarter worth $21,169,000. The Manufacturers Life Insurance Company raised its position in Discover Financial Services by 23.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 619,818 shares of the financial services provider’s stock valued at $81,078,000 after purchasing an additional 116,412 shares in the last quarter. Finally, Westchester Capital Management LLC purchased a new stake in shares of Discover Financial Services in the 3rd quarter worth $15,784,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Trading Up 0.3 %

Shares of NYSE:DFS opened at $201.59 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03. The firm has a market capitalization of $50.66 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.15 and a beta of 1.46. The business’s 50-day moving average is $178.82 and its 200 day moving average is $154.68. Discover Financial Services has a 1 year low of $101.71 and a 1 year high of $204.93.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping 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 27.52%. On average, research analysts predict that Discover Financial Services will post 12.82 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company 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. This represents a $2.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Analyst Ratings Changes

Several analysts recently weighed in on DFS shares. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $150.00 to $239.00 in a report on Monday, January 13th. Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday. Evercore ISI increased their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday. Finally, Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $180.57.

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.