Turtle Creek Wealth Advisors LLC Purchases New Position in Discover Financial Services (NYSE:DFS)

Turtle Creek Wealth Advisors LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 307 shares of the financial services provider’s stock, valued at approximately $35,000.

Other hedge funds have also recently modified their holdings of the company. Flputnam Investment Management Co. lifted its position in shares of Discover Financial Services by 7.9% during the 3rd quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock worth $229,000 after buying an additional 193 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Discover Financial Services by 335.4% during the 4th quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after buying an additional 49,145 shares in the last quarter. Vest Financial LLC increased its stake in shares of Discover Financial Services by 18.8% during the 4th quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after purchasing an additional 19,283 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Discover Financial Services by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after purchasing an additional 16,532 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Discover Financial Services by 27.1% during the 4th quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider’s stock worth $38,184,000 after purchasing an additional 72,452 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 1.7 %

Discover Financial Services stock opened at $120.91 on Friday. The stock has a market cap of $30.30 billion, a P/E ratio of 10.75, a PEG ratio of 0.86 and a beta of 1.45. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The firm’s fifty day moving average price is $120.54 and its 200-day moving average price is $104.68. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.13.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.96). Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the firm posted $3.77 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Discover Financial Services will post 11.36 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 22nd were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.80 annualized dividend and a yield of 2.32%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.89%.

Insider Buying and Selling

In related news, CFO John Greene sold 35,191 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the transaction, the chief financial officer now directly owns 18,592 shares in the company, valued at $1,980,233.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DFS shares. Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Morgan Stanley upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $105.00 to $133.00 in a research note on Thursday, February 8th. BMO Capital Markets decreased their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Piper Sandler raised their price target on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and an average price target of $125.22.

About Discover Financial Services

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.