Haverford Trust Co Trims Stock Position in Discover Financial Services (NYSE:DFS)

Haverford Trust Co lessened its stake in Discover Financial Services (NYSE:DFS) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,845 shares of the financial services provider’s stock after selling 65 shares during the period. Haverford Trust Co’s holdings in Discover Financial Services were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services in the 3rd quarter valued at $30,000. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services in the fourth quarter valued at $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services in the fourth quarter valued at $34,000. Grove Bank & Trust raised its holdings in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

NYSE:DFS opened at $169.86 on Wednesday. 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 fifty-two week low of $119.31 and a fifty-two week high of $205.76. The firm’s fifty day simple moving average is $185.84 and its 200-day simple moving average is $169.65. The stock has a market cap of $42.74 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its 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 net margin of 17.29% and a return on equity of 26.18%. Analysts expect that Discover Financial Services will post 13.88 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 Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.65%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays upped their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their price target on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Truist Financial decreased their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 21st. Keefe, Bruyette & Woods boosted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company raised their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $192.40.

Discover Financial Services Company 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.