Graypoint LLC Purchases Shares of 1,858 Discover Financial Services (NYSE:DFS)

Graypoint LLC acquired a new stake in shares of Discover Financial Services (NYSE:DFS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,858 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other hedge funds have also made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new stake in Discover Financial Services during the fourth quarter worth approximately $28,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Discover Financial Services during the third quarter worth approximately $30,000. Resurgent Financial Advisors LLC bought a new stake in Discover Financial Services during the fourth quarter worth approximately $31,000. Pinnacle Bancorp Inc. boosted its holdings in Discover Financial Services by 282.0% during the third quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock worth $33,000 after buying an additional 282 shares in the last quarter. Finally, Compass Wealth Management LLC bought a new stake in Discover Financial Services during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of DFS opened at $121.31 on Tuesday. The company has a market capitalization of $30.40 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. The company’s fifty day moving average price is $120.83 and its 200 day moving average price is $105.19.

Discover Financial Services (NYSE:DFS) last posted its quarterly 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). The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.77 earnings per share. As a group, analysts expect that Discover Financial Services will post 11.2 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were given a $0.70 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.80 annualized dividend and a yield of 2.31%. Discover Financial Services’s dividend payout ratio is 24.89%.

Insiders Place Their Bets

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the firm’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 sale, the chief financial officer now directly owns 18,592 shares in the company, valued at approximately $1,980,233.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DFS shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a report on Friday, January 19th. Evercore ISI raised their price objective on shares of Discover Financial Services from $117.00 to $140.00 and gave the stock an “in-line” rating in a research note on Thursday, February 22nd. 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. Wolfe Research reaffirmed a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Finally, Citigroup raised their price objective on shares of Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and an average price target of $125.22.

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; 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.