1,375 Shares in Discover Financial Services (NYSE:DFS) Purchased by Doheny Asset Management CA

Doheny Asset Management CA bought a new position in Discover Financial Services (NYSE:DFS) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,375 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other large investors also recently modified their holdings of DFS. Raymond James Financial Inc. purchased a new position in Discover Financial Services during the 4th quarter valued at $38,489,000. Nomura Asset Management Co. Ltd. increased its holdings in Discover Financial Services by 10.5% in 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 in the last quarter. Brookstone Capital Management purchased a new stake in Discover Financial Services during the 4th quarter valued at approximately $282,000. Meyer Handelman Co. purchased a new stake in Discover Financial Services during the 4th quarter valued at approximately $239,000. Finally, Mechanics Bank Trust Department purchased a new stake in Discover Financial Services during the 4th quarter valued at approximately $234,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Stock Up 3.4 %

Shares of DFS opened at $164.67 on Friday. The company has a market cap of $41.43 billion, a PE ratio of 10.32, a P/E/G ratio of 1.51 and a beta of 1.45. The business has a fifty day moving average of $187.69 and a 200 day moving average of $167.82. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

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%. On average, sell-side analysts expect that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Truist Financial increased their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods increased their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. increased their target price on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and a consensus price target of $191.91.

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.