Doheny Asset Management CA Takes $238,000 Position in Discover Financial Services (NYSE:DFS)

Doheny Asset Management CA bought a new stake in Discover Financial Services (NYSE:DFS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,375 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in Discover Financial Services during the 4th quarter valued at $33,000. Bfsg LLC purchased a new position in Discover Financial Services in the fourth quarter valued at about $35,000. Grove Bank & Trust raised its position in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Discover Financial Services during the third quarter valued at about $30,000. Finally, Hantz Financial Services Inc. acquired a new position in Discover Financial Services in the fourth quarter worth about $37,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on DFS. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Royal Bank of Canada boosted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Truist Financial boosted their price target 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. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $191.91.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $164.67 on Friday. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $187.69 and a two-hundred day simple moving average of $167.82. The stock has a market capitalization of $41.43 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Analysts forecast that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

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.