Los Angeles Capital Management LLC Purchases New Stake in Discover Financial Services (NYSE:DFS)

Los Angeles Capital Management LLC acquired a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 306,309 shares of the financial services provider's stock, valued at approximately $34,429,000. Los Angeles Capital Management LLC owned 0.12% of Discover Financial Services at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

DFS has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. lifted their target price on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 3rd. HSBC upped their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a "hold" rating in a research report on Thursday, March 21st. Seaport Res Ptn downgraded shares of Discover Financial Services from a "buy" rating to a "neutral" rating in a research report on Friday, March 15th. Finally, Jefferies Financial Group raised their price target on shares of Discover Financial Services from $137.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, April 19th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Discover Financial Services currently has an average rating of "Hold" and a consensus target price of $126.29.

Discover Financial Services Stock Up 0.4 %

Shares of DFS stock traded up $0.55 on Friday, reaching $125.06. 811,001 shares of the company were exchanged, compared to its average volume of 2,149,604. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65. The company has a market cap of $31.34 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.74 and a beta of 1.43. The company has a 50-day moving average of $124.34 and a 200-day moving average of $108.25. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.05 and a quick ratio of 1.13.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the prior year, the firm earned $3.58 EPS. Analysts anticipate that Discover Financial Services will post 11.48 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services's dividend payout ratio is currently 31.93%.

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; 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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