Allspring Global Investments Holdings LLC cut its holdings in shares of Discover Financial Services (NYSE:DFS – Free Report) by 16.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,439 shares of the financial services provider’s stock after selling 5,508 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Discover Financial Services were worth $4,765,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services during the third quarter valued at $30,000. Grove Bank & Trust raised its position in shares of Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in Discover Financial Services in the 4th quarter valued at about $37,000. Venturi Wealth Management LLC boosted its holdings in Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after buying an additional 68 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in Discover Financial Services during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on DFS. Royal Bank of Canada raised their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Barclays raised their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Evercore ISI raised their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services presently has an average rating of “Hold” and an average target price of $186.46.
Discover Financial Services Stock Down 1.5 %
DFS stock opened at $200.21 on Friday. The firm has a market cap of $50.32 billion, a PE ratio of 12.54, a PEG ratio of 0.60 and a beta of 1.46. Discover Financial Services has a one year low of $118.74 and a one year high of $205.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The firm’s 50 day moving average price is $186.51 and its 200-day moving average price is $162.43.
Discover Financial Services (NYSE:DFS – Get Free Report) last posted its earnings results 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 return on equity of 26.18% and a net margin of 17.29%. On average, equities research analysts anticipate that Discover Financial Services will post 13.89 EPS for the current year.
Discover Financial Services Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders 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 dividend on an annualized basis and a yield of 1.40%. Discover Financial Services’s payout ratio is currently 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.
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