Heritage Wealth Advisors Cuts Stock Position in Discover Financial Services (NYSE:DFS)

Heritage Wealth Advisors decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 29.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260 shares of the financial services provider’s stock after selling 106 shares during the quarter. Heritage Wealth Advisors’ holdings in Discover Financial Services were worth $45,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DFS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services during the 3rd quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in Discover Financial Services during the fourth quarter valued at approximately $33,000. Flagship Wealth Advisors LLC bought a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $34,000. Grove Bank & Trust boosted 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 worth $35,000 after purchasing an additional 89 shares during the period. Finally, Bfsg LLC bought a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $35,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of DFS stock opened at $166.29 on Thursday. The stock has a market capitalization of $41.84 billion, a price-to-earnings ratio of 10.42, a P/E/G ratio of 1.51 and a beta of 1.45. 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 twelve month low of $119.31 and a twelve month high of $205.76. The stock has a fifty day simple moving average of $185.41 and a two-hundred day simple moving average of $169.63.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Keefe, Bruyette & Woods upped their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company raised their price objective 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, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, Truist Financial reduced their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $192.40.

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; 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.