Schrum Private Wealth Management LLC Sells 2,407 Shares of Discover Financial Services (NYSE:DFS)

Schrum Private Wealth Management LLC cut its stake in Discover Financial Services (NYSE:DFS) by 50.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,407 shares of the financial services provider’s stock after selling 2,407 shares during the period. Schrum Private Wealth Management LLC’s holdings in Discover Financial Services were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. National Pension Service increased its holdings in shares of Discover Financial Services by 14.8% during 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 period. Nomura Asset Management Co. Ltd. raised its holdings in Discover Financial Services by 10.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after acquiring an additional 10,946 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $282,000. Meyer Handelman Co. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth $239,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Discover Financial Services in the third quarter worth $2,415,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $181.28 on Thursday. The firm has a market cap of $45.61 billion, a PE ratio of 11.36, a PEG ratio of 1.51 and a beta of 1.46. The stock has a 50 day moving average of $189.27 and a 200 day moving average of $166.62. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. 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 issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts expect that Discover Financial Services will post 13.88 EPS 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. Investors of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DFS shares. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Truist Financial lifted their price target on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.