Silphium Asset Management Ltd Makes New $6.88 Million Investment in Discover Financial Services (NYSE:DFS)

Silphium Asset Management Ltd purchased a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 39,704 shares of the financial services provider’s stock, valued at approximately $6,878,000. Discover Financial Services accounts for 2.3% of Silphium Asset Management Ltd’s investment portfolio, making the stock its 12th biggest position.

Several other large investors also recently bought and sold shares of DFS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Discover Financial Services during the 3rd quarter worth about $30,000. SBI Securities Co. Ltd. purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $33,000. Grove Bank & Trust increased its holdings 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 acquiring an additional 89 shares during the last quarter. Bfsg LLC purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $35,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on DFS shares. Royal Bank of Canada raised their price target on 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. Truist Financial raised their price target on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company raised their price target 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. Finally, Barclays raised their price target on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $191.91.

Discover Financial Services Stock Up 2.2 %

DFS opened at $195.38 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The business has a 50 day simple moving average of $188.81 and a 200-day simple moving average of $165.78. The stock has a market capitalization of $49.16 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.51 and a beta of 1.46. Discover Financial Services has a 12 month low of $118.74 and a 12 month high of $205.76.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results 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 return on equity of 26.18% and a net margin of 17.29%. On average, equities analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.43%. Discover Financial Services’s dividend 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.