Chevy Chase Trust Holdings LLC Sells 2,880 Shares of Discover Financial Services (NYSE:DFS)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Discover Financial Services (NYSE:DFS) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,929 shares of the financial services provider’s stock after selling 2,880 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Discover Financial Services worth $22,854,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $351,766,000. FMR LLC boosted its holdings in shares of Discover Financial Services by 8.0% during the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Discover Financial Services by 1,272.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after buying an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $39,067,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Discover Financial Services during the 3rd quarter valued at $21,169,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DFS shares. JPMorgan Chase & Co. lifted their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Truist Financial lifted their price target on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company lifted their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services has an average rating of “Hold” and a consensus price target of $186.46.

Discover Financial Services Trading Up 3.2 %

Discover Financial Services stock opened at $196.14 on Friday. The business has a 50-day simple moving average of $184.70 and a two-hundred day simple moving average of $160.75. The company has a market cap of $49.29 billion, a P/E ratio of 12.29, a P/E/G ratio of 0.63 and a beta of 1.46. Discover Financial Services has a 52-week low of $109.50 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 quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (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%. Analysts predict that Discover Financial Services will post 13.57 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. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.43%. Discover Financial Services’s dividend payout ratio is currently 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.