1,160 Shares in Discover Financial Services (NYSE:DFS) Acquired by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC purchased a new stake in Discover Financial Services (NYSE:DFS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,160 shares of the financial services provider’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in Discover Financial Services by 0.8% during the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after buying an additional 80,601 shares in the last quarter. FMR LLC boosted its position 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 acquiring an additional 558,227 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Discover Financial Services during the fourth quarter worth about $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Discover Financial Services by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after purchasing an additional 12,255 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Discover Financial Services by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after purchasing an additional 7,751 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on DFS. Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Truist Financial upped their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Evercore ISI lifted their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services has a consensus rating of “Hold” and a consensus price target of $191.91.

Discover Financial Services Stock Performance

NYSE:DFS opened at $193.54 on Tuesday. 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 fifty-two week low of $118.74 and a fifty-two week high of $205.76. The firm has a market cap of $48.64 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The business has a 50 day moving average price of $187.21 and a 200-day moving average price of $163.95.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Equities research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.45%. Discover Financial Services’s payout ratio is presently 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.