Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 45.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 107,231 shares of the financial services provider’s stock after selling 89,016 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Discover Financial Services were worth $9,095,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Executive Wealth Management LLC lifted its position in shares of Discover Financial Services by 122.4% in the 3rd quarter. Executive Wealth Management LLC now owns 367 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 202 shares during the period. Prime Capital Investment Advisors LLC bought a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $35,000. Doyle Wealth Management bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $35,000. Quest Capital Management Inc. ADV bought a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $44,000. Finally, Resources Management Corp CT ADV bought a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $55,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on DFS shares. Piper Sandler downgraded Discover Financial Services from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $96.00 to $86.00 in a research report on Friday. Wedbush reiterated an “outperform” rating on shares of Discover Financial Services in a research report on Wednesday, December 18th. Nomura restated a “neutral” rating and set a $89.00 target price (down previously from $96.00) on shares of Discover Financial Services in a research report on Thursday, December 5th. Wells Fargo & Co cut their target price on Discover Financial Services from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Evercore ISI downgraded Discover Financial Services from an “in-line” rating to an “underperform” rating and set a $75.00 price objective for the company. in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $86.06.
NYSE:DFS opened at $85.85 on Friday. Discover Financial Services has a 1 year low of $64.86 and a 1 year high of $92.98. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The stock has a market cap of $26.75 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 1.21 and a beta of 1.61. The stock has a 50-day moving average price of $84.64 and a two-hundred day moving average price of $82.81.
Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.01. Discover Financial Services had a return on equity of 26.79% and a net margin of 20.97%. The firm had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm earned $2.03 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Discover Financial Services will post 9.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 20th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.05%. Discover Financial Services’s dividend payout ratio (DPR) is 22.59%.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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