Discover Financial Services (NYSE:DFS) Shares Bought by Choate Investment Advisors

Choate Investment Advisors raised its position in Discover Financial Services (NYSE:DFS) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,644 shares of the financial services provider’s stock after purchasing an additional 231 shares during the period. Choate Investment Advisors’ holdings in Discover Financial Services were worth $978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of DFS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services in the 3rd quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $33,000. Grove Bank & Trust increased its position in shares of Discover Financial Services by 78.1% in the 4th 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 last quarter. Bfsg LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $37,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Up 3.4 %

Shares of NYSE DFS opened at $164.67 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76. The firm has a 50-day moving average price of $187.69 and a 200 day moving average price of $168.29. 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 announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS 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%. Equities research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

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

Analysts Set New Price Targets

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

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.