OneAscent Financial Services LLC Takes Position in Discover Financial Services (NYSE:DFS)

OneAscent Financial Services LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,636 shares of the financial services provider’s stock, valued at approximately $283,000.

A number of other hedge funds also recently added to or reduced their stakes in DFS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services during the third quarter worth $30,000. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services during the 4th quarter worth $33,000. Flagship Wealth Advisors LLC purchased a new stake in Discover Financial Services during the 4th quarter worth about $34,000. Grove Bank & Trust raised its position in 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 purchasing an additional 89 shares in the last quarter. Finally, Bfsg LLC purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $35,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 9.0 %

Discover Financial Services stock opened at $146.77 on Friday. The company has a market capitalization of $36.93 billion, a P/E ratio of 9.20, a PEG ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The stock has a 50-day simple moving average of $181.35 and a 200-day simple moving average of $170.95.

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, beating 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%. Equities research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current 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 yield of 1.91%. 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

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company increased their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Finally, Truist Financial decreased their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 21st. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.