Factorial Partners LLC Cuts Position in Discover Financial Services (NYSE:DFS)

Factorial Partners LLC reduced its position in shares of Discover Financial Services (NYSE:DFS) by 39.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,000 shares of the financial services provider’s stock after selling 10,600 shares during the period. Discover Financial Services comprises about 1.6% of Factorial Partners LLC’s holdings, making the stock its 27th largest holding. Factorial Partners LLC’s holdings in Discover Financial Services were worth $2,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DFS. Hemington Wealth Management lifted its stake in Discover Financial Services by 11.0% during the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 50 shares in the last quarter. UMB Bank n.a. increased its stake in Discover Financial Services by 0.6% during the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after purchasing an additional 56 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Discover Financial Services by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 57 shares in the last quarter. Invst LLC boosted its stake in shares of Discover Financial Services by 0.9% in the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 62 shares during the period. Finally, CTC Alternative Strategies Ltd. grew its holdings in shares of Discover Financial Services by 3.2% in the third quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 63 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Truist Financial raised their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. lifted their target price on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Royal Bank of Canada upped their price target on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Barclays increased their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Discover Financial Services presently has a consensus rating of “Hold” and an average target price of $191.91.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $195.38 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 52 week low of $118.74 and a 52 week high of $205.76. The firm’s 50 day moving average is $188.81 and its two-hundred day moving average is $165.25. The firm has a market capitalization of $49.16 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.51 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Research analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 1.43%. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

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.