Laraway Financial Inc bought a new stake in shares of Discover Financial Services (NYSE:DFS – Get Rating) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 4,700 shares of the financial services provider’s stock, valued at approximately $543,000.
A number of other institutional investors and hedge funds have also made changes to their positions in DFS. Koshinski Asset Management Inc. grew its position in Discover Financial Services by 17.6% in the fourth quarter. Koshinski Asset Management Inc. now owns 588 shares of the financial services provider’s stock worth $68,000 after buying an additional 88 shares during the last quarter. Nicolet Advisory Services LLC lifted its holdings in shares of Discover Financial Services by 4.3% during the third quarter. Nicolet Advisory Services LLC now owns 2,173 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 89 shares during the last quarter. First Midwest Bank Trust Division lifted its holdings in shares of Discover Financial Services by 1.3% during the fourth quarter. First Midwest Bank Trust Division now owns 7,411 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 94 shares during the last quarter. FinTrust Capital Advisors LLC boosted its position in shares of Discover Financial Services by 3.9% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 2,678 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 100 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in shares of Discover Financial Services by 43.9% in the fourth quarter. Benjamin Edwards Inc. now owns 341 shares of the financial services provider’s stock worth $39,000 after buying an additional 104 shares during the period. Institutional investors own 85.53% of the company’s stock.
A number of equities analysts recently commented on the stock. Credit Suisse Group raised their price objective on shares of Discover Financial Services from $142.00 to $148.00 and gave the stock an “outperform” rating in a research note on Friday, January 21st. Wolfe Research downgraded Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 price target on the stock. in a report on Thursday, May 12th. Morgan Stanley reduced their price objective on Discover Financial Services from $144.00 to $127.00 and set an “equal weight” rating for the company in a research note on Monday, March 28th. Piper Sandler upgraded Discover Financial Services from a “neutral” rating to an “overweight” rating and upped their target price for the company from $125.00 to $142.00 in a report on Monday, January 24th. They noted that the move was a valuation call. Finally, Evercore ISI began coverage on shares of Discover Financial Services in a report on Friday, January 21st. They set a “hold” rating and a $130.00 price target for the company. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $138.76.
Discover Financial Services (NYSE:DFS – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.64. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.99 billion. Discover Financial Services had a return on equity of 41.57% and a net margin of 38.42%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $5.04 earnings per share. As a group, equities analysts expect that Discover Financial Services will post 14.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 26th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, May 25th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.50. Discover Financial Services’s payout ratio is 11.80%.
Discover Financial Services Profile (Get Rating)
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.
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