Checchi Capital Advisers LLC Acquires Shares of 2,481 Discover Financial Services (NYSE:DFS)

Checchi Capital Advisers LLC purchased a new position in shares of Discover Financial Services (NYSE:DFS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,481 shares of the financial services provider’s stock, valued at approximately $279,000.

Several other large investors have also modified their holdings of the stock. Wealthspire Advisors LLC raised its stake in shares of Discover Financial Services by 3.3% during the fourth quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 99 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of Discover Financial Services by 1.7% during the fourth quarter. Simon Quick Advisors LLC now owns 6,397 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 109 shares during the last quarter. Czech National Bank raised its stake in shares of Discover Financial Services by 0.3% during the fourth quarter. Czech National Bank now owns 43,796 shares of the financial services provider’s stock worth $4,923,000 after purchasing an additional 110 shares during the last quarter. Glenview Trust co raised its stake in shares of Discover Financial Services by 0.5% during the third quarter. Glenview Trust co now owns 24,363 shares of the financial services provider’s stock worth $2,111,000 after purchasing an additional 130 shares during the last quarter. Finally, Patron Partners LLC grew its holdings in Discover Financial Services by 3.5% during the third quarter. Patron Partners LLC now owns 4,117 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DFS shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Discover Financial Services in a report on Wednesday, February 21st. Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Piper Sandler boosted their price target on Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, Barclays boosted their target price on Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Stock Up 0.3 %

Shares of Discover Financial Services stock opened at $127.09 on Thursday. The business has a 50-day moving average of $124.91 and a 200-day moving average of $110.91. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $31.85 billion, a PE ratio of 14.45, a P/E/G ratio of 0.74 and a beta of 1.43. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $131.65.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same quarter last year, the business posted $3.58 earnings per share. As a group, equities analysts forecast that Discover Financial Services will post 11.48 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

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; 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.