Signet Financial Management LLC Cuts Stake in Discover Financial Services (NYSE:DFS)

Signet Financial Management LLC lessened its stake in Discover Financial Services (NYSE:DFS) by 0.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,240 shares of the financial services provider’s stock after selling 171 shares during the quarter. Signet Financial Management LLC’s holdings in Discover Financial Services were worth $5,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. grew its stake in shares of Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after buying an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Discover Financial Services during the third quarter worth approximately $30,000. Pinnacle Bancorp Inc. raised its position in Discover Financial Services by 37.1% during the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 79 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 68 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Discover Financial Services in the 4th quarter worth approximately $51,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Up 3.8 %

Discover Financial Services stock traded up $6.42 during trading hours on Monday, reaching $176.06. The stock had a trading volume of 1,965,610 shares, compared to its average volume of 1,290,259. Discover Financial Services has a 52 week low of $96.46 and a 52 week high of $188.26. The company has a market cap of $44.20 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.12 and a beta of 1.45. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. The business’s 50 day moving average price is $175.28 and its 200-day moving average price is $150.70.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same period last year, the firm earned $2.59 earnings per share. Sell-side analysts anticipate that Discover Financial Services will post 13.43 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 22.60%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the stock from $150.00 to $239.00 in a research report on Monday. Barclays raised shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $137.00 to $186.00 in a research note on Monday, January 6th. Truist Financial initiated coverage on shares of Discover Financial Services in a research note on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price objective for the company. Royal Bank of Canada upped their target price on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price target on Discover Financial Services from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $165.00.

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; 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.