Howard Capital Management Inc. Raises Position in Discover Financial Services (NYSE:DFS)

Howard Capital Management Inc. grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,529 shares of the financial services provider’s stock after purchasing an additional 72 shares during the period. Howard Capital Management Inc.’s holdings in Discover Financial Services were worth $265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Olympiad Research LP lifted its holdings in shares of Discover Financial Services by 13.9% during the 4th quarter. Olympiad Research LP now owns 13,924 shares of the financial services provider’s stock valued at $2,412,000 after purchasing an additional 1,704 shares during the last quarter. Lipe & Dalton purchased a new position in Discover Financial Services in the 4th quarter worth $225,000. Bell Bank purchased a new position in Discover Financial Services in the 4th quarter worth $244,000. Transcend Capital Advisors LLC purchased a new position in Discover Financial Services in the 4th quarter worth $201,000. Finally, Wolverine Asset Management LLC raised its stake in Discover Financial Services by 32.0% in the 4th quarter. Wolverine Asset Management LLC now owns 6,600 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $187.66 on Wednesday. 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 has a twelve month low of $118.74 and a twelve month high of $205.76. The business has a 50-day moving average price of $187.49 and a 200 day moving average price of $164.38. The firm has a market cap of $47.16 billion, a PE ratio of 11.76, a P/E/G ratio of 1.51 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate 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 predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.49%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Royal Bank of Canada raised their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Barclays raised their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Finally, Truist Financial lifted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Discover Financial Services currently has an average rating of “Hold” and an average target price of $191.91.

About Discover Financial Services

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.