Park Place Capital Corp Has $281,000 Position in Discover Financial Services (NYSE:DFS)

Park Place Capital Corp increased its holdings in shares of Discover Financial Services (NYSE:DFS) by 4.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,625 shares of the financial services provider’s stock after purchasing an additional 75 shares during the period. Park Place Capital Corp’s holdings in Discover Financial Services were worth $281,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings 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 buying an additional 558,227 shares during the last quarter. Mizuho Securities USA LLC raised its stake in Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after purchasing an additional 245,829 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Discover Financial Services by 67.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock valued at $62,606,000 after purchasing an additional 192,142 shares during the period. International Assets Investment Management LLC acquired a new stake in Discover Financial Services in the 3rd quarter worth $21,169,000. Finally, The Manufacturers Life Insurance Company grew its position in Discover Financial Services by 23.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 619,818 shares of the financial services provider’s stock worth $81,078,000 after purchasing an additional 116,412 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 4.6 %

Shares of Discover Financial Services stock opened at $197.98 on Thursday. Discover Financial Services has a 12-month low of $99.07 and a 12-month high of $198.97. The stock has a market capitalization of $49.75 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.09 and a beta of 1.46. The company has a 50-day simple moving average of $177.30 and a 200 day simple moving average of $153.37. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 13.78% and a return on equity of 22.08%. Research analysts expect that Discover Financial Services will post 14.15 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.41%. Discover Financial Services’s payout ratio is 22.60%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DFS shares. StockNews.com upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Royal Bank of Canada upped their target price on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, Truist Financial initiated coverage on shares of Discover Financial Services in a research note on Tuesday, January 7th. They set a “buy” rating and a $233.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $171.71.

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.