Norinchukin Bank The Acquires 1,030 Shares of Discover Financial Services (NYSE:DFS)

Norinchukin Bank The increased its stake in Discover Financial Services (NYSE:DFS) by 9.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,406 shares of the financial services provider’s stock after purchasing an additional 1,030 shares during the quarter. Norinchukin Bank The’s holdings in Discover Financial Services were worth $1,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hemington Wealth Management raised its holdings in shares of Discover Financial Services by 11.0% during the fourth quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 50 shares during the period. UMB Bank n.a. grew 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. increased its holdings in shares of Discover Financial Services by 0.9% during 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 in the last quarter. Brown Brothers Harriman & Co. raised its position 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 worth $244,000 after purchasing an additional 57 shares during the period. Finally, Invst LLC lifted its holdings in shares of Discover Financial Services by 0.9% in 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 in the last quarter. 86.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Truist Financial decreased their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Royal Bank of Canada lifted 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and an average price target of $188.40.

Discover Financial Services Trading Up 2.3 %

Shares of DFS stock opened at $159.91 on Monday. The company has a 50 day moving average of $171.42 and a 200-day moving average of $172.84. Discover Financial Services has a 12-month low of $119.95 and a 12-month high of $205.76. The firm has a market cap of $40.23 billion, a P/E ratio of 10.02, a PEG ratio of 1.51 and a beta of 1.20. 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 (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating 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%. Sell-side analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.75%. Discover Financial Services’s payout ratio is 17.54%.

Discover Financial Services Company 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.