340 Shares in Discover Financial Services (NYSE:DFS) Bought by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new position in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 340 shares of the financial services provider’s stock, valued at approximately $59,000.

A number of other hedge funds have also modified their holdings of DFS. Blue Trust Inc. boosted its position in shares of Discover Financial Services by 115.7% in the third quarter. Blue Trust Inc. now owns 1,234 shares of the financial services provider’s stock worth $161,000 after buying an additional 662 shares during the period. Raymond James & Associates boosted its position in shares of Discover Financial Services by 12.7% in the third quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider’s stock worth $20,954,000 after buying an additional 16,863 shares during the period. Foundations Investment Advisors LLC boosted its position in shares of Discover Financial Services by 16.3% in the third quarter. Foundations Investment Advisors LLC now owns 2,046 shares of the financial services provider’s stock worth $287,000 after buying an additional 286 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Discover Financial Services by 4.4% in the third quarter. Sequoia Financial Advisors LLC now owns 6,191 shares of the financial services provider’s stock worth $869,000 after buying an additional 263 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Discover Financial Services in the third quarter worth $138,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $194.21 on Friday. Discover Financial Services has a fifty-two week low of $118.74 and a fifty-two week high of $205.76. The business has a 50-day moving average of $186.87 and a two-hundred day moving average of $162.92. The stock has a market capitalization of $48.81 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.53 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

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 for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, equities research analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.44%. Discover Financial Services’s payout ratio is presently 17.54%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Evercore ISI lifted their price objective on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted 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. Finally, Truist Financial lifted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and an average target price of $186.46.

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.