Diversified Trust Co Reduces Stock Position in Discover Financial Services (NYSE:DFS)

Diversified Trust Co cut its position in Discover Financial Services (NYSE:DFS) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,162 shares of the financial services provider’s stock after selling 122 shares during the period. Diversified Trust Co’s holdings in Discover Financial Services were worth $548,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. increased its holdings in 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 buying an additional 157 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Discover Financial Services in the third quarter worth $30,000. Y.D. More Investments Ltd raised its holdings in shares of Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Discover Financial Services by 37.1% during 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 during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 68 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 3.5 %

Shares of DFS opened at $169.76 on Friday. The stock has a 50 day moving average price of $175.28 and a 200 day moving average price of $150.35. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The stock has a market capitalization of $42.66 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.13 and a beta of 1.46. Discover Financial Services has a one year low of $96.46 and a one year high of $188.26.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period in the prior year, the business earned $2.59 earnings per share. Equities research analysts forecast that Discover Financial Services will post 13.43 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, December 5th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Thursday, November 21st. Discover Financial Services’s dividend payout ratio is currently 22.60%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Barclays raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $137.00 to $186.00 in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Truist Financial began coverage on shares of Discover Financial Services in a research note on Tuesday. They issued a “buy” rating and a $233.00 target price for the company. Finally, Evercore ISI raised their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $160.07.

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.