Silverlake Wealth Management LLC Acquires New Shares in Discover Financial Services (NYSE:DFS)

Silverlake Wealth Management LLC acquired a new stake in Discover Financial Services (NYSE:DFS) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,236 shares of the financial services provider’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DFS. Czech National Bank lifted its position in Discover Financial Services by 7.1% in the 3rd quarter. Czech National Bank now owns 51,146 shares of the financial services provider’s stock valued at $7,175,000 after acquiring an additional 3,392 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Discover Financial Services by 6.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,903 shares of the financial services provider’s stock valued at $548,000 after buying an additional 244 shares during the period. Miracle Mile Advisors LLC lifted its holdings in shares of Discover Financial Services by 4.9% during the 3rd quarter. Miracle Mile Advisors LLC now owns 2,074 shares of the financial services provider’s stock valued at $291,000 after buying an additional 96 shares during the period. Fulton Bank N.A. increased its position in Discover Financial Services by 109.6% during the third quarter. Fulton Bank N.A. now owns 6,396 shares of the financial services provider’s stock valued at $897,000 after acquiring an additional 3,344 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Discover Financial Services by 4.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 2,159 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 87 shares during the period. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Up 1.7 %

NYSE DFS opened at $201.79 on Thursday. The stock’s 50 day moving average is $182.09 and its 200 day moving average is $157.92. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12 month low of $104.08 and a 12 month high of $205.76. The stock has a market cap of $50.71 billion, a PE ratio of 12.64, a P/E/G ratio of 0.64 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping 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%. Research analysts predict that Discover Financial Services will post 13.39 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.39%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DFS. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Barclays upped their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target 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. Truist Financial upped their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $182.64.

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.