Truist Financial Corp Sells 5,698 Shares of Discover Financial Services (NYSE:DFS)

Truist Financial Corp decreased its position in Discover Financial Services (NYSE:DFS) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,398 shares of the financial services provider’s stock after selling 5,698 shares during the period. Truist Financial Corp owned 0.08% of Discover Financial Services worth $35,581,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services in the third quarter valued at about $30,000. Grove Bank & Trust lifted its stake in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the period. Hantz Financial Services Inc. bought a new position in Discover Financial Services during the fourth quarter worth about $37,000. Venturi Wealth Management LLC boosted its holdings in Discover Financial Services by 27.4% during 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 last quarter. Finally, Decker Retirement Planning Inc. bought a new position in Discover Financial Services during the fourth quarter worth about $47,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DFS. 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 report on Monday, January 13th. Truist Financial raised their target price on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a report on Friday, January 24th. Evercore ISI raised their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services presently has an average rating of “Hold” and an average price target of $186.46.

Discover Financial Services Trading Up 0.5 %

NYSE DFS opened at $196.96 on Wednesday. The stock has a market capitalization of $49.50 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.63 and a beta of 1.46. The stock’s 50 day moving average price is $185.09 and its two-hundred day moving average price is $161.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a 52 week low of $118.74 and a 52 week 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 the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, analysts anticipate that Discover Financial Services will post 13.57 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Discover Financial Services Company 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.