Calamos Wealth Management LLC Makes New $250,000 Investment in Discover Financial Services (NYSE:DFS)

Calamos Wealth Management LLC bought a new stake in Discover Financial Services (NYSE:DFS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,444 shares of the financial services provider’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DFS. National Pension Service raised its position in Discover Financial Services by 14.8% during the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after purchasing an additional 56,814 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Discover Financial Services by 10.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock worth $16,202,000 after buying an additional 10,946 shares in the last quarter. Meyer Handelman Co. bought a new stake in shares of Discover Financial Services during the 4th quarter worth $239,000. Brookstone Capital Management acquired a new stake in Discover Financial Services in the fourth quarter valued at about $282,000. Finally, Janney Montgomery Scott LLC bought a new position in Discover Financial Services in the third quarter valued at about $2,415,000. Institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Truist Financial increased their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Royal Bank of Canada increased their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Finally, UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $182.64.

Discover Financial Services Stock Performance

NYSE:DFS opened at $198.42 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a fifty-two week low of $104.08 and a fifty-two week high of $205.76. The company has a 50 day simple moving average of $181.78 and a two-hundred day simple moving average of $157.52. The company has a market capitalization of $49.87 billion, a PE ratio of 12.43, a P/E/G ratio of 0.64 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping 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%. Research analysts anticipate that Discover Financial Services will post 13.39 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 Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 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.