Montag A & Associates Inc. Buys 8,653 Shares of Discover Financial Services (NYSE:DFS)

Montag A & Associates Inc. boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 472.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,486 shares of the financial services provider’s stock after purchasing an additional 8,653 shares during the period. Montag A & Associates Inc.’s holdings in Discover Financial Services were worth $1,816,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Discover Financial Services in the third quarter valued at $30,000. Grove Bank & Trust lifted its stake in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Discover Financial Services in the 4th quarter valued at about $37,000. Venturi Wealth Management LLC increased its stake in shares of Discover Financial Services by 27.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 68 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Discover Financial Services in the 4th quarter valued at about $47,000. 86.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Wells Fargo & Company upped their price objective 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, January 24th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $186.46.

Discover Financial Services Stock Performance

Shares of NYSE:DFS opened at $196.14 on Monday. Discover Financial Services has a 12-month low of $109.50 and a 12-month high of $205.76. The company’s 50 day moving average price is $184.70 and its two-hundred day moving average price is $160.86. The firm has a market cap of $49.29 billion, a PE ratio of 12.29, a PEG ratio of 0.63 and a beta of 1.46. 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) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts predict that Discover Financial Services will post 13.57 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business 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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

About Discover Financial Services

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.