Bryn Mawr Capital Management LLC Acquires 3,339 Shares of Discover Financial Services (NYSE:DFS)

Bryn Mawr Capital Management LLC raised its holdings in shares of Discover Financial Services (NYSE:DFS) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,639 shares of the financial services provider’s stock after purchasing an additional 3,339 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Discover Financial Services were worth $2,207,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new stake in Discover Financial Services during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Discover Financial Services during the 4th quarter worth $35,000. First Command Advisory Services Inc. purchased a new position in Discover Financial Services during the 3rd quarter worth $39,000. Larson Financial Group LLC boosted its holdings in Discover Financial Services by 105.8% during the 3rd quarter. Larson Financial Group LLC now owns 465 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 239 shares during the last quarter. Finally, Macroview Investment Management LLC purchased a new position in Discover Financial Services during the 3rd quarter worth $41,000. Institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DFS. HSBC lifted their price objective on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Morgan Stanley raised shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. Piper Sandler lifted their price objective on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets cut their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Stock Performance

Discover Financial Services stock traded up $2.03 during mid-day trading on Friday, reaching $127.70. The company’s stock had a trading volume of 1,136,120 shares, compared to its average volume of 2,202,638. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The company has a market capitalization of $32.00 billion, a P/E ratio of 14.56, a PEG ratio of 0.78 and a beta of 1.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.05. The firm’s fifty day moving average price is $123.80 and its two-hundred day moving average price is $107.27.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter in the prior year, the firm posted $3.58 earnings per share. Sell-side analysts predict that Discover Financial Services will post 11.39 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.19%. Discover Financial Services’s dividend payout ratio is 31.93%.

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; private student loans, 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.