Discover Financial Services (NYSE:DFS) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in shares of Discover Financial Services (NYSE:DFS) by 31.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,154 shares of the financial services provider’s stock after acquiring an additional 1,963 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Discover Financial Services were worth $1,412,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hemington Wealth Management increased its position in Discover Financial Services by 11.0% during the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 50 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Discover Financial Services by 0.6% in the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 56 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Discover Financial Services by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 57 shares in the last quarter. Invst LLC boosted its position in Discover Financial Services by 0.9% during the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 62 shares during the period. Finally, CTC Alternative Strategies Ltd. increased its holdings in Discover Financial Services by 3.2% in the 3rd quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 63 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DFS has been the subject of several analyst reports. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Barclays increased their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada boosted their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Truist Financial boosted their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $191.91.

Discover Financial Services Price Performance

Shares of DFS opened at $164.67 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a market cap of $41.43 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The stock has a 50 day moving average of $187.69 and a 200-day moving average of $168.06.

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

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.70%. Discover Financial Services’s payout ratio is currently 17.54%.

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.