Massmutual Trust Co. FSB ADV reduced its stake in Discover Financial Services (NYSE:DFS – Free Report) by 19.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 673 shares of the financial services provider’s stock after selling 162 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Discover Financial Services were worth $58,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DFS. Resurgent Financial Advisors LLC bought a new stake in Discover Financial Services during the 4th quarter worth about $31,000. Horizon Bancorp Inc. IN lifted its position in Discover Financial Services by 76.1% during the 1st quarter. Horizon Bancorp Inc. IN now owns 347 shares of the financial services provider’s stock worth $34,000 after buying an additional 150 shares in the last quarter. Compass Wealth Management LLC bought a new stake in Discover Financial Services during the 4th quarter worth about $34,000. Carmichael Hill & Associates Inc. acquired a new position in shares of Discover Financial Services during the 2nd quarter worth about $35,000. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of Discover Financial Services during the 2nd quarter worth about $47,000. 83.63% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
DFS has been the topic of several recent analyst reports. BMO Capital Markets lowered their price objective on shares of Discover Financial Services from $100.00 to $99.00 and set a “market perform” rating on the stock in a research note on Friday, October 20th. Morgan Stanley decreased their price target on shares of Discover Financial Services from $95.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Thursday. Bank of America decreased their price target on shares of Discover Financial Services from $116.00 to $102.00 in a research note on Thursday, October 5th. Piper Sandler decreased their price target on shares of Discover Financial Services from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Finally, The Goldman Sachs Group decreased their target price on shares of Discover Financial Services from $109.00 to $103.00 in a research report on Monday, October 2nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.53.
Discover Financial Services Stock Up 2.6 %
NYSE:DFS traded up $2.18 during trading hours on Friday, reaching $86.38. The company had a trading volume of 1,266,550 shares, compared to its average volume of 2,366,935. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of 6.41, a P/E/G ratio of 1.65 and a beta of 1.44. The business’s 50-day simple moving average is $86.56 and its two-hundred day simple moving average is $98.37. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $122.50.
Discover Financial Services (NYSE:DFS – Get Free Report) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.59). The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.95 billion. Discover Financial Services had a return on equity of 27.23% and a net margin of 18.39%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.54 earnings per share. On average, equities analysts expect that Discover Financial Services will post 12.49 earnings per share for the current year.
Discover Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Tuesday, November 21st. Discover Financial Services’s payout ratio is currently 20.77%.
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; private student loans, 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.
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