Friedenthal Financial Makes New Investment in Discover Financial Services (NYSE:DFS)

Friedenthal Financial bought a new position in Discover Financial Services (NYSE:DFS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 293 shares of the financial services provider’s stock, valued at approximately $51,000.

Several other institutional investors have also made changes to their positions in the company. DiNuzzo Private Wealth Inc. boosted its position in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 157 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services in the third quarter worth approximately $30,000. Pinnacle Bancorp Inc. lifted its position in shares of Discover Financial Services by 37.1% in the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 79 shares in the last quarter. Venturi Wealth Management LLC grew its position in Discover Financial Services by 27.4% during the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 68 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in Discover Financial Services during the third quarter valued at approximately $53,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DFS shares. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $160.00 to $185.00 and gave the company an “equal weight” rating in a research note on Friday, January 3rd. Truist Financial started coverage on Discover Financial Services in a research note on Tuesday, January 7th. They issued a “buy” rating and a $233.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Royal Bank of Canada lifted their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Finally, UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $239.00 in a report on Monday. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average price target of $165.00.

Discover Financial Services Price Performance

NYSE DFS opened at $176.06 on Tuesday. The stock has a 50-day simple moving average of $175.82 and a 200 day simple moving average of $151.06. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $188.26. The stock has a market capitalization of $44.20 billion, a PE ratio of 14.21, a P/E/G ratio of 1.12 and a beta of 1.45. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period in the previous year, the company earned $2.59 earnings per share. Research analysts anticipate that Discover Financial Services will post 13.43 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were given a $0.70 dividend. The ex-dividend date was Thursday, November 21st. This represents a $2.80 annualized dividend and a yield of 1.59%. Discover Financial Services’s dividend payout ratio is 22.60%.

Discover Financial Services 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.