Tanager Wealth Management LLP Makes New Investment in Discover Financial Services (NYSE:DFS)

Tanager Wealth Management LLP bought a new position in Discover Financial Services (NYSE:DFS) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,427 shares of the financial services provider’s stock, valued at approximately $247,000.

A number of other large investors have also added to or reduced their stakes in DFS. DiNuzzo Private Wealth Inc. raised its holdings in Discover Financial Services by 506.5% in the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services during the third quarter worth about $30,000. Grove Bank & Trust grew its stake in shares of Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of Discover Financial Services during the fourth quarter worth about $37,000. Finally, Pinnacle Bancorp Inc. grew its stake in shares of Discover Financial Services by 37.1% during the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 79 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Price Performance

DFS stock opened at $198.42 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market capitalization of $49.87 billion, a P/E ratio of 12.43, a P/E/G ratio of 0.64 and a beta of 1.46. The business’s 50-day moving average is $181.78 and its two-hundred day moving average is $157.52. Discover Financial Services has a 1 year low of $104.08 and a 1 year high of $205.76.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Discover Financial Services will post 13.39 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DFS shares. Keefe, Bruyette & Woods boosted 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. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their target price on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Evercore ISI upped their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price 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. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Discover Financial Services presently has an average rating of “Hold” and an average target price of $182.64.

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.