Moreno Evelyn V Buys New Position in Discover Financial Services (NYSE:DFS)

Moreno Evelyn V purchased a new position in shares of Discover Financial Services (NYSE:DFS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,991 shares of the financial services provider’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Partnership Wealth Management LLC acquired a new stake in Discover Financial Services in the fourth quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Discover Financial Services during the 4th quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC bought a new position in Discover Financial Services in the fourth quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC bought a new position in Discover Financial Services in the fourth quarter worth approximately $35,000. Finally, First Command Advisory Services Inc. bought a new position in shares of Discover Financial Services in the 3rd quarter worth $39,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

DFS traded down $2.06 on Thursday, hitting $122.25. The company’s stock had a trading volume of 397,841 shares, compared to its average volume of 2,005,151. The firm has a market cap of $30.64 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The company’s 50 day simple moving average is $125.09 and its 200-day simple moving average is $112.35. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $131.65. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same period last year, the company posted $3.58 EPS. Analysts forecast that Discover Financial Services will post 11.48 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.29%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DFS shares. Morgan Stanley raised shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $105.00 to $133.00 in a research report on Thursday, February 8th. Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Piper Sandler boosted their price target on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $140.00 price objective (up previously from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus target price of $126.29.

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; 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.