M&T Bank Corp Trims Holdings in Discover Financial Services (NYSE:DFS)

M&T Bank Corp trimmed its position in Discover Financial Services (NYSE:DFS) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,656 shares of the financial services provider’s stock after selling 556 shares during the period. M&T Bank Corp’s holdings in Discover Financial Services were worth $4,097,000 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 the company. State Street Corp lifted its holdings in Discover Financial Services by 0.8% in the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock valued at $1,472,771,000 after purchasing an additional 80,601 shares in the last quarter. FMR LLC lifted its holdings in Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after purchasing an additional 558,227 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Discover Financial Services in the 4th quarter valued at about $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Discover Financial Services by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock valued at $257,391,000 after purchasing an additional 12,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Discover Financial Services by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,738,804 shares of the financial services provider’s stock worth $301,213,000 after acquiring an additional 10,528 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 3.1 %

Shares of NYSE:DFS opened at $167.38 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76. The company has a 50 day moving average of $189.03 and a two-hundred day moving average of $166.87. The company has a market capitalization of $42.11 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

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

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DFS shares. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Barclays increased their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Truist Financial increased their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Discover Financial Services has an average rating of “Hold” and an average price target of $191.91.

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.