Tanager Wealth Management LLP Takes Position in Discover Financial Services (NYSE:DFS)

Tanager Wealth Management LLP purchased a new stake in shares of Discover Financial Services (NYSE:DFS) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,427 shares of the financial services provider’s stock, valued at approximately $247,000.

Other institutional investors have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. lifted its stake in shares of Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Discover Financial Services in the third quarter valued at $30,000. Grove Bank & Trust grew its holdings in shares of Discover Financial Services by 78.1% in the fourth 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. Hantz Financial Services Inc. purchased a new position in shares of Discover Financial Services in the fourth quarter valued at $37,000. Finally, Pinnacle Bancorp Inc. grew its holdings in shares of Discover Financial Services by 37.1% in the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on DFS. 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 research note on Friday, January 24th. Truist Financial lifted their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, Barclays lifted their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $182.64.

Discover Financial Services Stock Performance

DFS stock opened at $198.42 on Wednesday. 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 business has a 50-day moving average price of $181.78 and a 200 day moving average price of $157.52. The company has a market capitalization of $49.87 billion, a P/E ratio of 12.43, a PEG ratio of 0.64 and a beta of 1.46. Discover Financial Services has a 1-year low of $104.08 and a 1-year high of $205.76.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data 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%. As a group, equities research analysts forecast that Discover Financial Services will post 13.39 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued 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 1.41%. Discover Financial Services’s payout ratio is currently 17.54%.

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.