Discover Financial Services (NYSE:DFS) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 6.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,559 shares of the financial services provider’s stock after selling 359 shares during the period. Jacobi Capital Management LLC’s holdings in Discover Financial Services were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bfsg LLC acquired a new stake in Discover Financial Services during the fourth quarter worth about $35,000. Grove Bank & Trust raised its stake in Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Discover Financial Services during the third quarter worth about $30,000. Hantz Financial Services Inc. acquired a new stake in Discover Financial Services during the fourth quarter worth about $37,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Discover Financial Services during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DFS. Barclays raised their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Truist Financial raised their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. 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. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and an average price target of $191.91.

Discover Financial Services Price Performance

NYSE DFS opened at $195.38 on Friday. Discover Financial Services has a 12 month low of $118.74 and a 12 month high of $205.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market capitalization of $49.16 billion, a PE ratio of 12.24, a P/E/G ratio of 1.51 and a beta of 1.46. The company’s 50 day simple moving average is $188.81 and its 200 day simple moving average is $165.52.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data 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 net margin of 17.29% and a return on equity of 26.18%. As a group, equities research analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.43%. Discover Financial Services’s dividend payout ratio is presently 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.