Discover Financial Services (NYSE:DFS) Stake Cut by OV Management LLC

OV Management LLC decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 91.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,373 shares of the financial services provider’s stock after selling 14,125 shares during the period. OV Management LLC’s holdings in Discover Financial Services were worth $238,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hemington Wealth Management grew its position in shares of Discover Financial Services by 11.0% during the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock valued at $87,000 after buying an additional 50 shares during the last quarter. UMB Bank n.a. boosted its stake in Discover Financial Services by 0.6% in the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 56 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Discover Financial Services by 0.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 57 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of Discover Financial Services by 4.2% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 57 shares during the last quarter. Finally, Invst LLC raised its position in shares of Discover Financial Services by 0.9% during the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 62 shares during the period. Institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DFS shares. Royal Bank of Canada upped their price objective on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Keefe, Bruyette & Woods increased their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Truist Financial reduced their target price on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Wells Fargo & Company raised their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $192.40.

Discover Financial Services Stock Up 7.7 %

Shares of DFS stock opened at $170.90 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The stock has a market cap of $43.00 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The business’s fifty day moving average is $184.07 and its 200-day moving average is $170.62. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping 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%. Equities analysts expect 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. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.64%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

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.