Daymark Wealth Partners LLC Takes $203,000 Position in Discover Financial Services (NYSE:DFS)

Daymark Wealth Partners LLC acquired a new stake in shares of Discover Financial Services (NYSE:DFS) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,170 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other institutional investors have also added to or reduced their stakes in DFS. National Pension Service increased its position in shares of Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after buying an additional 56,814 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Discover Financial Services by 10.5% during 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 acquiring an additional 10,946 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in Discover Financial Services during the 2nd quarter worth approximately $4,835,000. Meyer Handelman Co. purchased a new stake in Discover Financial Services in the 4th quarter worth approximately $239,000. Finally, Janney Montgomery Scott LLC bought a new position in Discover Financial Services in the 3rd quarter valued at $2,415,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

NYSE DFS opened at $201.59 on Friday. The company has a 50-day simple moving average of $178.30 and a two-hundred day simple moving average of $154.01. Discover Financial Services has a 12-month low of $101.71 and a 12-month high of $204.93. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.15 and a beta of 1.46. 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 issued its 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 return on equity of 27.52% and a net margin of 17.29%. On average, equities analysts forecast that Discover Financial Services will post 12.82 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is 17.54%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DFS. JPMorgan Chase & Co. upped their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays lifted their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI upped their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $180.57.

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.