Discover Financial Services (NYSE:DFS) Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 239.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,027,686 shares of the financial services provider's stock after purchasing an additional 1,430,637 shares during the period. Truist Financial Corp owned approximately 0.81% of Discover Financial Services worth $227,912,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Flputnam Investment Management Co. raised its holdings in Discover Financial Services by 7.9% during the 3rd quarter. Flputnam Investment Management Co. now owns 2,646 shares of the financial services provider's stock worth $229,000 after buying an additional 193 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of Discover Financial Services by 335.4% during the fourth quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider's stock valued at $7,171,000 after acquiring an additional 49,145 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Discover Financial Services by 1.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider's stock valued at $103,000,000 after acquiring an additional 16,532 shares in the last quarter. Vest Financial LLC boosted its stake in Discover Financial Services by 18.8% in the 4th quarter. Vest Financial LLC now owns 121,753 shares of the financial services provider's stock worth $13,685,000 after purchasing an additional 19,283 shares during the period. Finally, Raymond James & Associates grew its position in Discover Financial Services by 27.1% during the 4th quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider's stock worth $38,184,000 after purchasing an additional 72,452 shares in the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Seaport Res Ptn lowered Discover Financial Services from a "buy" rating to a "neutral" rating in a report on Friday, March 15th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. Evercore ISI upped their target price on Discover Financial Services from $117.00 to $140.00 and gave the company an "in-line" rating in a report on Thursday, February 22nd. HSBC increased their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a "hold" rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 10th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $126.29.

Discover Financial Services Stock Up 1.6 %

Shares of DFS stock traded up $2.03 on Friday, hitting $127.70. The company's stock had a trading volume of 1,136,120 shares, compared to its average volume of 2,202,638. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.05 and a quick ratio of 1.13. The stock has a market capitalization of $32.00 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.78 and a beta of 1.45. The firm's fifty day moving average price is $123.80 and its 200-day moving average price is $107.27. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $131.65.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 16.74% and a net margin of 10.56%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same quarter last year, the firm posted $3.58 earnings per share. Research analysts anticipate that Discover Financial Services will post 11.39 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services's dividend payout ratio is currently 31.93%.

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.

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