Discover Financial Services (NYSE:DFS) Shares Acquired by Signaturefd LLC

Signaturefd LLC raised its position in shares of Discover Financial Services (NYSE:DFS) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,589 shares of the financial services provider’s stock after acquiring an additional 1,073 shares during the quarter. Signaturefd LLC’s holdings in Discover Financial Services were worth $741,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DFS. Bruce G. Allen Investments LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $28,000. Pinnacle Bancorp Inc. increased its holdings in shares of Discover Financial Services by 282.0% in the third quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 282 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $35,000. First Command Advisory Services Inc. acquired a new stake in shares of Discover Financial Services in the third quarter valued at approximately $39,000. Finally, Larson Financial Group LLC increased its holdings in shares of Discover Financial Services by 105.8% in the third quarter. Larson Financial Group LLC now owns 465 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Trading Up 2.1 %

NYSE:DFS opened at $129.30 on Wednesday. The firm has a market cap of $32.40 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.45. The stock has a fifty day moving average price of $122.76 and a 200 day moving average price of $106.72. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The company has a current ratio of 1.05, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. During the same quarter last year, the business posted $3.58 earnings per share. Sell-side analysts anticipate that Discover Financial Services will post 11.34 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. The Goldman Sachs Group cut their price target on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating for the company in a report on Friday, January 19th. StockNews.com assumed coverage on Discover Financial Services in a research note on Thursday, April 18th. They set a “hold” rating for the company. Piper Sandler raised their target price on Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Wells Fargo & Company raised their target price on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $105.00 to $133.00 in a research note on Thursday, February 8th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $126.29.

Insider Transactions at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the transaction, the chief financial officer now owns 18,592 shares in the company, valued at approximately $1,980,233.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

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.