Mission Wealth Management LP Makes New $267,000 Investment in Discover Financial Services (NYSE:DFS)

Mission Wealth Management LP bought a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, Holdings Channel.com reports. The fund bought 2,373 shares of the financial services provider’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Boston Partners raised its holdings in Discover Financial Services by 56.5% in the 3rd quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock valued at $743,663,000 after acquiring an additional 3,102,119 shares in the last quarter. FMR LLC raised its stake in Discover Financial Services by 4.4% in the third quarter. FMR LLC now owns 5,686,848 shares of the financial services provider’s stock valued at $492,652,000 after purchasing an additional 238,498 shares in the last quarter. Northern Trust Corp lifted its position in Discover Financial Services by 0.8% during the third quarter. Northern Trust Corp now owns 2,578,053 shares of the financial services provider’s stock worth $223,337,000 after purchasing an additional 20,333 shares during the period. Invesco Ltd. grew its stake in Discover Financial Services by 30.9% during the third quarter. Invesco Ltd. now owns 2,233,324 shares of the financial services provider’s stock worth $193,473,000 after buying an additional 526,951 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in Discover Financial Services by 239.6% in the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after buying an additional 1,430,637 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Trading Up 0.4 %

DFS opened at $125.06 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.05 and a quick ratio of 1.13. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65. The company’s 50 day moving average price is $124.34 and its two-hundred day moving average price is $108.25. The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.74 and a beta of 1.43.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. During the same period in the prior year, the firm earned $3.58 EPS. As a group, research analysts predict that Discover Financial Services will post 11.48 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. Discover Financial Services’s payout ratio is 31.93%.

Wall Street Analysts Forecast Growth

DFS has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $140.00 target price (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. StockNews.com began coverage on Discover Financial Services in a report on Saturday. They set a “hold” rating for the company. Finally, Barclays raised their price objective on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $126.29.

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.