Affinity Wealth Management LLC Acquires Shares of 2,915 Discover Financial Services (NYSE:DFS)

Affinity Wealth Management LLC bought a new position in Discover Financial Services (NYSE:DFS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,915 shares of the financial services provider’s stock, valued at approximately $505,000.

A number of other large investors have also recently made changes to their positions in the company. National Pension Service lifted its stake in Discover Financial Services by 14.8% in the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock worth $61,693,000 after purchasing an additional 56,814 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake 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 acquiring an additional 10,946 shares during the last quarter. William B. Walkup & Associates Inc. bought a new position in Discover Financial Services in the 2nd quarter valued at $4,835,000. Meyer Handelman Co. bought a new position in shares of Discover Financial Services in the fourth quarter worth about $239,000. Finally, Brookstone Capital Management purchased a new position in Discover Financial Services in the 4th quarter worth about $282,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on DFS. Wells Fargo & Company upped 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. Evercore ISI raised their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday. Keefe, Bruyette & Woods increased their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Truist Financial started coverage on Discover Financial Services in a report on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.57.

Discover Financial Services Price Performance

NYSE:DFS opened at $201.59 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03. The company has a 50 day moving average price of $178.82 and a 200-day moving average price of $154.51. Discover Financial Services has a 1-year low of $101.71 and a 1-year high of $204.93. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. Equities research analysts forecast that Discover Financial Services will post 12.82 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.39%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

About Discover Financial Services

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.