Diametric Capital LP Sells 11,937 Shares of Discover Financial Services (NYSE:DFS)

Diametric Capital LP decreased its position in shares of Discover Financial Services (NYSE:DFS) by 54.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,840 shares of the financial services provider’s stock after selling 11,937 shares during the period. Discover Financial Services makes up about 1.2% of Diametric Capital LP’s investment portfolio, making the stock its 13th largest position. Diametric Capital LP’s holdings in Discover Financial Services were worth $1,705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services during the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $33,000. Flagship Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $34,000. Grove Bank & Trust boosted its holdings in Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares during the period. Finally, Bfsg LLC bought a new position in Discover Financial Services in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 7.7 %

DFS opened at $170.90 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a market cap of $43.00 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The stock has a fifty day moving average price of $184.07 and a 200-day moving average price of $170.62.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analyst Ratings Changes

DFS has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Royal Bank of Canada boosted 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 dropped their target price on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $192.40.

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.