Wealthfront Advisers LLC Has $5.04 Million Stock Position in Discover Financial Services (NYSE:DFS)

Wealthfront Advisers LLC grew its position in Discover Financial Services (NYSE:DFS) by 8.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,115 shares of the financial services provider’s stock after buying an additional 2,191 shares during the period. Wealthfront Advisers LLC’s holdings in Discover Financial Services were worth $5,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Hemington Wealth Management grew its stake in shares of Discover Financial Services by 11.0% during the fourth quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 50 shares during the period. UMB Bank n.a. grew its stake in shares of Discover Financial Services by 0.6% during the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after purchasing an additional 56 shares during the period. Stratos Wealth Partners LTD. grew its stake in shares of Discover Financial Services by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 57 shares during the period. Invst LLC grew its stake in shares of Discover Financial Services by 0.9% during the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 62 shares during the period. Finally, CTC Alternative Strategies Ltd. grew its stake in shares of Discover Financial Services by 3.2% during the third quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 63 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $163.71 on Thursday. The firm has a market cap of $41.19 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The stock’s 50-day moving average is $188.22 and its 200-day moving average is $167.66. Discover Financial Services has a one year low of $119.31 and a one year high of $205.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

Discover Financial Services (NYSE:DFS) last issued its quarterly 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%. Equities analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DFS. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays lifted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.