PNC Financial Services Group Inc. Reduces Stock Position in Discover Financial Services (NYSE:DFS)

PNC Financial Services Group Inc. cut its holdings in Discover Financial Services (NYSE:DFS) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,647 shares of the financial services provider’s stock after selling 843 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Discover Financial Services worth $37,356,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in Discover Financial Services during the 4th quarter valued at about $33,000. Bfsg LLC purchased a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $35,000. Grove Bank & Trust boosted its position in shares of Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Discover Financial Services during the third quarter valued at approximately $30,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $37,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 3.1 %

NYSE DFS opened at $167.38 on Monday. The business’s fifty day simple moving average is $189.03 and its 200-day simple moving average is $167.33. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market cap of $42.11 billion, a PE ratio of 10.49, a P/E/G 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.

Discover Financial Services (NYSE:DFS) last issued 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 return on equity of 26.18% and a net margin of 17.29%. As a group, equities analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.67%. Discover Financial Services’s payout ratio is presently 17.54%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DFS shares. Keefe, Bruyette & Woods boosted 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 note on Monday, December 9th. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their target price on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Barclays lifted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company increased their price objective on 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. Nine investment 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.com, the company currently has an average rating of “Hold” and a consensus 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.