TCV Trust & Wealth Management Inc. Decreases Stock Position in Discover Financial Services (NYSE:DFS)

TCV Trust & Wealth Management Inc. lessened its position in shares of Discover Financial Services (NYSE:DFS) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,567 shares of the financial services provider’s stock after selling 131 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Discover Financial Services were worth $271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DFS. National Pension Service lifted its holdings 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 valued at $61,693,000 after purchasing an additional 56,814 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Discover Financial Services by 10.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after purchasing an additional 10,946 shares during the period. Brookstone Capital Management purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at approximately $282,000. Meyer Handelman Co. bought a new position in Discover Financial Services in the 4th quarter worth approximately $239,000. Finally, Janney Montgomery Scott LLC purchased a new position in Discover Financial Services in the 3rd quarter valued at approximately $2,415,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays increased their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Truist Financial upped their price target on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Evercore ISI raised their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and an average target price of $186.46.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $194.95 on Wednesday. The company’s fifty day moving average price is $183.54 and its 200-day moving average price is $159.60. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market capitalization of $48.99 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.63 and a beta of 1.46. Discover Financial Services has a one year low of $107.10 and a one year high of $205.76.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates 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, equities research analysts anticipate that Discover Financial Services will post 13.57 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given 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 1.44%. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Discover Financial Services 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.