Atlantic Union Bankshares Corp Increases Stake in Discover Financial Services (NYSE:DFS)

Atlantic Union Bankshares Corp grew its position in Discover Financial Services (NYSE:DFS) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,653 shares of the financial services provider’s stock after acquiring an additional 1,641 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Discover Financial Services were worth $2,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in Discover Financial Services in the 4th quarter worth about $28,000. Riverview Trust Co purchased a new position in Discover Financial Services in the 1st quarter worth about $34,000. MeadowBrook Investment Advisors LLC purchased a new position in Discover Financial Services in the 4th quarter worth about $31,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Discover Financial Services in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Discover Financial Services in a research note on Saturday. They issued a “hold” rating on the stock. Jefferies Financial Group raised their price target on shares of Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. HSBC raised their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Finally, BTIG Research initiated coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.29.

Discover Financial Services Stock Up 5.7 %

NYSE:DFS opened at $130.81 on Friday. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The stock has a market capitalization of $32.80 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.75 and a beta of 1.41. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50-day simple moving average is $124.81 and its 200-day simple moving average is $118.66.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the prior year, the business posted $3.58 earnings per share. On average, equities analysts anticipate that Discover Financial Services will post 11.47 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Discover Financial Services Company 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.