Discover Financial Services (NYSE:DFS) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC boosted its position in shares of Discover Financial Services (NYSE:DFS) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,759 shares of the financial services provider’s stock after buying an additional 795 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Discover Financial Services were worth $2,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DFS. Raymond James Financial Inc. purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $38,489,000. Nomura Asset Management Co. Ltd. increased its position in shares of Discover Financial Services by 10.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after buying an additional 10,946 shares in the last quarter. Brookstone Capital Management acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $282,000. Meyer Handelman Co. purchased a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $239,000. Finally, Mechanics Bank Trust Department acquired a new stake in Discover Financial Services in the 4th quarter valued at $234,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 7.7 %

Shares of DFS stock opened at $170.90 on Tuesday. 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 company’s 50-day moving average price is $184.07 and its 200-day moving average price is $170.62. The stock has a market cap of $43.00 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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 analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm 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 1.64%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analyst Ratings Changes

DFS has been the subject of a number of research analyst reports. Truist Financial reduced their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada upped their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Seven 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $192.40.

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.