Berkshire Asset Management LLC PA Sells 67 Shares of Discover Financial Services (NYSE:DFS)

Berkshire Asset Management LLC PA lessened its position in Discover Financial Services (NYSE:DFS) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,228 shares of the financial services provider’s stock after selling 67 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Discover Financial Services were worth $386,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $351,766,000. FMR LLC raised its holdings in Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after acquiring an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC raised its holdings in Discover Financial Services by 1,272.0% during the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after acquiring an additional 245,829 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Discover Financial Services during the fourth quarter valued at approximately $39,067,000. Finally, Raymond James Financial Inc. bought a new position in Discover Financial Services in the fourth quarter valued at approximately $38,489,000. Institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company upped their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Truist Financial upped their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Barclays raised their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $191.91.

Discover Financial Services Trading Down 3.1 %

Shares of NYSE:DFS opened at $167.38 on Friday. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76. The business has a 50 day moving average of $189.03 and a 200-day moving average of $166.87. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock has a market cap of $42.11 billion, a PE ratio of 10.49, a P/E/G ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, equities research analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.67%. Discover Financial Services’s payout ratio is presently 17.54%.

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; 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.