Concurrent Investment Advisors LLC Lowers Stock Holdings in Discover Financial Services (NYSE:DFS)

Concurrent Investment Advisors LLC decreased its holdings in Discover Financial Services (NYSE:DFS) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,622 shares of the financial services provider’s stock after selling 56 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Discover Financial Services were worth $627,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services in the 3rd quarter worth approximately $30,000. Grove Bank & Trust lifted 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. Bfsg LLC acquired a new position in shares of Discover Financial Services in the fourth quarter worth $35,000. Hantz Financial Services Inc. acquired a new position in Discover Financial Services during the fourth quarter worth $37,000. Finally, Venturi Wealth Management LLC increased its position in Discover Financial Services by 27.4% during the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DFS. Royal Bank of Canada increased their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Truist Financial lifted their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Evercore ISI upped 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 note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $191.91.

Discover Financial Services Trading Down 2.8 %

DFS opened at $194.21 on Monday. Discover Financial Services has a 1-year low of $118.74 and a 1-year high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company has a market cap of $48.81 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The company has a fifty day moving average price of $186.87 and a two-hundred day moving average price of $163.47.

Discover Financial Services (NYSE:DFS) last released its quarterly 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 net margin of 17.29% and a return on equity of 26.18%. Analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

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; 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.