Private Trust Co. NA Decreases Stock Holdings in Discover Financial Services (NYSE:DFS)

Private Trust Co. NA reduced its holdings in shares of Discover Financial Services (NYSE:DFS) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,292 shares of the financial services provider’s stock after selling 81 shares during the quarter. Private Trust Co. NA’s holdings in Discover Financial Services were worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of Discover Financial Services by 0.8% in the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after buying an additional 80,601 shares during the last quarter. FMR LLC raised its position in Discover Financial Services by 8.0% in 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 during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Discover Financial Services in the fourth quarter valued at about $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Discover Financial Services by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock valued at $257,391,000 after acquiring an additional 12,255 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Discover Financial Services by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock worth $242,460,000 after purchasing an additional 7,751 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $190.40 on Tuesday. Discover Financial Services has a 1-year low of $118.74 and a 1-year high of $205.76. 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 capitalization of $47.91 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The firm’s 50 day simple moving average is $189.13 and its 200 day simple moving average is $166.20.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm 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. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.47%. Discover Financial Services’s payout ratio is currently 17.54%.

Analysts Set New Price Targets

Several equities analysts recently commented on DFS shares. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Truist Financial upped their price objective 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 lifted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $191.91.

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.