State of Tennessee Department of Treasury Sells 4,158 Shares of Discover Financial Services (NYSE:DFS)

State of Tennessee Department of Treasury lessened its holdings in Discover Financial Services (NYSE:DFS) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,650 shares of the financial services provider’s stock after selling 4,158 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Discover Financial Services were worth $16,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Discover Financial Services in the fourth quarter valued at about $33,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $34,000. Grove Bank & Trust boosted its stake in shares of Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Bfsg LLC bought a new stake in shares of Discover Financial Services during the 4th quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. acquired a new position in Discover Financial Services during the 4th quarter worth approximately $37,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 4.3 %

NYSE:DFS opened at $172.47 on Wednesday. Discover Financial Services has a 52 week low of $119.95 and a 52 week high of $205.76. The firm’s fifty day moving average is $170.61 and its 200-day moving average is $172.98. The firm has a market cap of $43.39 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current 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 net margin of 17.29% and a return on equity of 26.18%. Equities analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.62%. Discover Financial Services’s payout ratio is 17.54%.

Analysts Set New Price Targets

A number of analysts have weighed in on DFS shares. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price target on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Truist Financial dropped their price objective on shares of 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 boosted their target price 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $188.40.

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.