BerganKDV Wealth Management LLC Raises Stock Holdings in Discover Financial Services (NYSE:DFS)

BerganKDV Wealth Management LLC boosted its holdings in Discover Financial Services (NYSE:DFSGet Rating) by 6.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,943 shares of the financial services provider’s stock after buying an additional 2,313 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Discover Financial Services were worth $3,961,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. raised its position in Discover Financial Services by 2.3% in the 4th quarter. BlackRock Inc. now owns 20,610,036 shares of the financial services provider’s stock worth $2,381,696,000 after buying an additional 457,067 shares during the last quarter. State Street Corp raised its position in Discover Financial Services by 2.1% in the 4th quarter. State Street Corp now owns 13,584,398 shares of the financial services provider’s stock worth $1,569,813,000 after buying an additional 275,094 shares during the last quarter. Geode Capital Management LLC raised its position in Discover Financial Services by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 6,364,472 shares of the financial services provider’s stock worth $734,302,000 after buying an additional 360,707 shares during the last quarter. Boston Partners raised its position in Discover Financial Services by 13.0% in the 4th quarter. Boston Partners now owns 4,347,646 shares of the financial services provider’s stock worth $502,490,000 after buying an additional 501,073 shares during the last quarter. Finally, Northern Trust Corp raised its position in Discover Financial Services by 0.4% in the 4th quarter. Northern Trust Corp now owns 3,483,170 shares of the financial services provider’s stock worth $402,515,000 after buying an additional 12,843 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Bank of America decreased their target price on Discover Financial Services from $128.00 to $120.00 in a research report on Sunday, July 24th. Wolfe Research lowered shares of Discover Financial Services from an “outperform” rating to a “peer perform” rating and set a $97.00 price target for the company. in a research report on Thursday, May 12th. Wells Fargo & Company reduced their price target on shares of Discover Financial Services from $130.00 to $103.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Piper Sandler upped their price target on shares of Discover Financial Services to $132.00 in a research report on Friday, July 22nd. Finally, Credit Suisse Group reduced their price target on shares of Discover Financial Services to $134.00 in a research report on Friday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services presently has an average rating of “Moderate Buy” and an average target price of $127.56.

Discover Financial Services Price Performance

DFS stock traded down $0.01 during midday trading on Friday, hitting $102.35. The company’s stock had a trading volume of 1,313,984 shares, compared to its average volume of 2,076,221. Discover Financial Services has a 12 month low of $88.02 and a 12 month high of $135.69. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $27.96 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.23 and a beta of 1.45. The company has a 50 day moving average of $100.99 and a two-hundred day moving average of $109.23.

Discover Financial Services (NYSE:DFSGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.19. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the company posted $5.55 EPS. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, analysts expect that Discover Financial Services will post 15.21 EPS for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Stockholders of record on Thursday, August 25th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, August 24th. This represents a $2.40 annualized dividend and a dividend yield of 2.34%. Discover Financial Services’s dividend payout ratio (DPR) is 15.63%.

Discover Financial Services Profile

(Get Rating)

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; private student loans, 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.

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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