Fulton Bank N.A. Decreases Stake in Discover Financial Services (NYSE:DFS)

Fulton Bank N.A. reduced its holdings in Discover Financial Services (NYSE:DFS) by 32.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,509 shares of the financial services provider’s stock after selling 2,642 shares during the period. Fulton Bank N.A.’s holdings in Discover Financial Services were worth $722,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $28,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $31,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $35,000. Finally, Anchor Investment Management LLC purchased a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $42,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DFS shares. StockNews.com started coverage on shares of Discover Financial Services in a research note on Thursday, June 13th. They issued a “hold” rating for the company. Barclays raised their price objective on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Wells Fargo & Company raised their price objective on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Piper Sandler lifted their price target on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock traded up $0.85 during trading on Thursday, reaching $127.78. The company’s stock had a trading volume of 1,067,870 shares, compared to its average volume of 1,892,528. The company has a 50-day moving average price of $124.22 and a two-hundred day moving average price of $117.57. The firm has a market cap of $32.02 billion, a PE ratio of 14.57, a P/E/G ratio of 0.77 and a beta of 1.41. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same period in the previous year, the firm earned $3.58 earnings per share. On average, analysts forecast that Discover Financial Services will post 11.46 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.70 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.19%. Discover Financial Services’s payout ratio is 31.93%.

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; private student loans, 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.