Park National Corp OH Acquires 222 Shares of Discover Financial Services (NYSE:DFS)

Park National Corp OH raised its holdings in shares of Discover Financial Services (NYSE:DFS) by 7.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,198 shares of the financial services provider’s stock after purchasing an additional 222 shares during the period. Park National Corp OH’s holdings in Discover Financial Services were worth $419,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Partnership Wealth Management LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $35,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $42,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Discover Financial Services stock traded up $0.79 during trading on Tuesday, reaching $126.50. The company had a trading volume of 413,911 shares, compared to its average volume of 1,894,603. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $131.65. The firm’s 50-day simple moving average is $124.01 and its 200 day simple moving average is $117.21. The firm has a market capitalization of $31.70 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 0.74 and a beta of 1.41. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same period in the prior year, the business posted $3.58 earnings per share. Sell-side analysts forecast that Discover Financial Services will post 11.48 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.21%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DFS shares. HSBC upped their price target on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Piper Sandler upped their price target on Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Evercore ISI increased their target price on Discover Financial Services from $117.00 to $140.00 and gave the company an “in-line” rating in a research note on Thursday, February 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $140.00 target price (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Finally, Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $126.29.

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.