FNY Investment Advisers LLC Invests $1.35 Million in Discover Financial Services (NYSE:DFS)

FNY Investment Advisers LLC bought a new stake in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, Holdings Channel reports. The fund bought 7,809 shares of the financial services provider’s stock, valued at approximately $1,352,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. boosted its holdings in Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Discover Financial Services during the 3rd quarter valued at about $30,000. Pinnacle Bancorp Inc. increased its position in shares of Discover Financial Services by 37.1% during the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after buying an additional 79 shares during the period. Friedenthal Financial bought a new position in Discover Financial Services in the fourth quarter worth about $51,000. Finally, Venturi Wealth Management LLC lifted its holdings in Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after buying an additional 68 shares during the period. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 3.8 %

Discover Financial Services stock opened at $176.06 on Tuesday. The firm has a market cap of $44.20 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.12 and a beta of 1.45. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 12 month low of $96.46 and a 12 month high of $188.26. The stock has a fifty day simple moving average of $175.82 and a two-hundred day simple moving average of $151.06.

Discover Financial Services (NYSE:DFSGet Free Report) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping the consensus estimate of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period last year, the company earned $2.59 EPS. Equities analysts predict that Discover Financial Services will post 13.43 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.59%. Discover Financial Services’s payout ratio is 22.60%.

Analysts Set New Price Targets

A number of research firms have weighed in on DFS. Barclays upgraded Discover Financial Services from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $137.00 to $186.00 in a report on Monday, January 6th. Truist Financial began coverage on Discover Financial Services in a research report on Tuesday, January 7th. They set a “buy” rating and a $233.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Discover Financial Services from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Royal Bank of Canada increased their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $165.00.

Read Our Latest Report on DFS

Discover Financial Services Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSFree Report).

Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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