Polaris Greystone Financial Group LLC lifted its position in shares of Discover Financial Services (NYSE:DFS) by 50.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 55,881 shares of the financial services provider’s stock after purchasing an additional 18,624 shares during the period. Polaris Greystone Financial Group LLC’s holdings in Discover Financial Services were worth $4,674,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DFS. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Discover Financial Services by 13.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 36,522 shares of the financial services provider’s stock valued at $2,844,000 after buying an additional 4,313 shares in the last quarter. BlackRock Inc. lifted its stake in Discover Financial Services by 3.7% in the 2nd quarter. BlackRock Inc. now owns 24,713,231 shares of the financial services provider’s stock worth $1,917,500,000 after purchasing an additional 887,296 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Discover Financial Services in the 2nd quarter worth $525,000. Mackenzie Financial Corp purchased a new stake in Discover Financial Services in the 2nd quarter worth $1,502,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Discover Financial Services by 6.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 93,735 shares of the financial services provider’s stock worth $7,273,000 after purchasing an additional 5,593 shares in the last quarter. Institutional investors own 84.57% of the company’s stock.
NYSE:DFS traded down $1.21 during mid-day trading on Friday, hitting $75.16. 1,172,092 shares of the stock traded hands, compared to its average volume of 2,542,033. The stock has a market capitalization of $23.76 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 1.39 and a beta of 1.61. Discover Financial Services has a 52 week low of $66.95 and a 52 week high of $92.98. The firm’s 50 day moving average is $83.45 and its two-hundred day moving average is $82.64. The company has a quick ratio of 1.28, a current ratio of 1.08 and a debt-to-equity ratio of 2.19.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $2.25 EPS for the quarter, beating the consensus estimate of $2.24 by $0.01. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.94 billion. Discover Financial Services had a net margin of 20.94% and a return on equity of 26.25%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. As a group, research analysts predict that Discover Financial Services will post 9.01 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 20th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, February 19th. This represents a $1.76 annualized dividend and a yield of 2.34%. Discover Financial Services’s payout ratio is 19.38%.
Several analysts have commented on the stock. Credit Suisse Group boosted their price target on shares of Discover Financial Services from $98.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating on shares of Discover Financial Services in a research note on Wednesday, December 18th. Piper Sandler cut shares of Discover Financial Services from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $96.00 to $86.00 in a research note on Friday, January 24th. Wells Fargo & Co decreased their target price on shares of Discover Financial Services from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Finally, BMO Capital Markets restated an “in-line” rating and set a $84.00 target price on shares of Discover Financial Services in a research report on Monday. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $87.00.
In other news, EVP Wanjiku Juanita Walcott purchased 3,400 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were bought at an average cost of $73.95 per share, for a total transaction of $251,430.00. Following the acquisition, the executive vice president now owns 91,149 shares of the company’s stock, valued at approximately $6,740,468.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John Greene purchased 3,377 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were purchased at an average price of $73.84 per share, for a total transaction of $249,357.68. Following the completion of the acquisition, the chief financial officer now directly owns 27,502 shares in the company, valued at approximately $2,030,747.68. The disclosure for this purchase can be found here. Insiders have purchased a total of 21,777 shares of company stock worth $1,612,588 over the last quarter. 0.81% of the stock is currently owned by insiders.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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