TIAA Trust National Association Sells 85 Shares of Discover Financial Services (NYSE:DFS)

TIAA Trust National Association cut its holdings in Discover Financial Services (NYSE:DFS) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,991 shares of the financial services provider’s stock after selling 85 shares during the quarter. TIAA Trust National Association’s holdings in Discover Financial Services were worth $1,179,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DFS. Norges Bank purchased a new stake in shares of Discover Financial Services in the 4th quarter worth about $322,199,000. Truist Financial Corp grew its position in shares of Discover Financial Services by 239.6% in the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock worth $227,912,000 after buying an additional 1,430,637 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Discover Financial Services in the 4th quarter worth about $121,113,000. Envestnet Asset Management Inc. grew its position in shares of Discover Financial Services by 60.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after buying an additional 803,738 shares during the period. Finally, Canoe Financial LP purchased a new stake in shares of Discover Financial Services in the 4th quarter worth about $72,265,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Performance

NYSE DFS traded down $1.12 on Friday, reaching $141.77. 1,516,915 shares of the stock were exchanged, compared to its average volume of 1,474,303. Discover Financial Services has a one year low of $79.04 and a one year high of $147.61. The firm has a market capitalization of $35.55 billion, a PE ratio of 16.17, a PEG ratio of 0.85 and a beta of 1.44. The company’s 50-day simple moving average is $127.40 and its two-hundred day simple moving average is $121.33. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the business earned $3.54 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. Analysts expect that Discover Financial Services will post 11.77 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Analyst Upgrades and Downgrades

DFS has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group increased their price objective on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. StockNews.com began coverage on shares of Discover Financial Services in a research report on Monday, July 15th. They set a “hold” rating on the stock. Finally, BMO Capital Markets increased their price objective on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and a consensus target price of $131.33.

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; private student loans, 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.