Atria Wealth Solutions Inc. Purchases 2,024 Shares of Discover Financial Services (NYSE:DFS)

Atria Wealth Solutions Inc. increased its position in Discover Financial Services (NYSE:DFS) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,382 shares of the financial services provider’s stock after purchasing an additional 2,024 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Discover Financial Services were worth $2,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Pension Service increased its position in Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock worth $61,693,000 after buying an additional 56,814 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Discover Financial Services by 10.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock worth $16,202,000 after acquiring an additional 10,946 shares during the last quarter. Brookstone Capital Management acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services in the 4th quarter valued at $239,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Discover Financial Services during the 3rd quarter valued at $2,415,000. 86.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DFS shares. JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Truist Financial upped their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Evercore ISI raised their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada increased 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. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.46.

Discover Financial Services Stock Performance

DFS opened at $194.21 on Friday. 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 has a 52-week low of $118.74 and a 52-week high of $205.76. The firm has a market cap of $48.81 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.53 and a beta of 1.46. The business’s fifty day moving average is $186.87 and its 200-day moving average is $162.92.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping 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 expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.44%. Discover Financial Services’s dividend 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.