Norges Bank Invests $322.20 Million in Discover Financial Services (NYSE:DFS)

Norges Bank bought a new stake in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,866,541 shares of the financial services provider’s stock, valued at approximately $322,199,000. Norges Bank owned about 1.15% of Discover Financial Services as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flputnam Investment Management Co. raised its position in Discover Financial Services by 7.9% during the third quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 193 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in Discover Financial Services by 335.4% during the fourth 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. Allspring Global Investments Holdings LLC grew its position in Discover Financial Services by 1.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock valued at $103,000,000 after buying an additional 16,532 shares during the period. Principal Securities Inc. purchased a new position in Discover Financial Services in the fourth quarter valued at $1,073,000. Finally, Vest Financial LLC raised its position in shares of Discover Financial Services by 18.8% in the fourth quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider’s stock worth $13,685,000 after acquiring an additional 19,283 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

DFS has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Evercore ISI upped their target price on 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 Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. Wolfe Research restated a “peer perform” rating on shares of Discover Financial Services in a research report on Wednesday, February 21st. Finally, StockNews.com initiated coverage on shares of Discover Financial Services in a research report on Monday. They issued a “hold” rating on the stock. 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, the stock has a consensus rating of “Hold” and an average price target of $126.29.

Get Our Latest Research Report on Discover Financial Services

Discover Financial Services Trading Down 0.7 %

DFS opened at $124.59 on Tuesday. The business has a fifty day moving average price of $125.11 and a 200 day moving average price of $112.00. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $131.65. The stock has a market capitalization of $31.22 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 0.76 and a beta of 1.43.

Discover Financial Services (NYSE:DFSGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same period in the prior year, the firm posted $3.58 earnings per share. Sell-side analysts expect that Discover Financial Services will post 11.48 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.25%. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

About Discover Financial Services

(Free Report)

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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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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