Gallacher Capital Management LLC Has $360,000 Holdings in Discover Financial Services (NYSE:DFS)

Gallacher Capital Management LLC boosted its position in Discover Financial Services (NYSE:DFS) by 8.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,076 shares of the financial services provider’s stock after acquiring an additional 159 shares during the quarter. Gallacher Capital Management LLC’s holdings in Discover Financial Services were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sovereign Investment Advisors LLC acquired a new position in Discover Financial Services in the 4th quarter valued at $249,000. Choate Investment Advisors grew its stake in Discover Financial Services by 4.3% in the 4th quarter. Choate Investment Advisors now owns 5,644 shares of the financial services provider’s stock valued at $978,000 after buying an additional 231 shares during the last quarter. Doheny Asset Management CA acquired a new position in Discover Financial Services in the 4th quarter valued at $238,000. Sienna Gestion boosted its holdings in Discover Financial Services by 1,146.4% in the 4th quarter. Sienna Gestion now owns 47,264 shares of the financial services provider’s stock valued at $8,186,000 after purchasing an additional 43,472 shares during the period. Finally, Midwest Professional Planners LTD. boosted its holdings in Discover Financial Services by 0.8% in the 4th quarter. Midwest Professional Planners LTD. now owns 8,464 shares of the financial services provider’s stock valued at $1,466,000 after purchasing an additional 64 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on DFS. Keefe, Bruyette & Woods increased their price target 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. Barclays increased their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company increased 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, January 24th. Royal Bank of Canada increased their price target 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. Finally, Truist Financial increased their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $191.91.

Discover Financial Services Price Performance

NYSE:DFS opened at $164.67 on Friday. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The company has a market capitalization of $41.43 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.51 and a beta of 1.45. The company has a 50-day moving average of $187.69 and a 200-day moving average of $168.06. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (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%. As a group, equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend 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.