Discover Financial Services (NYSE:DFS) Stock Holdings Lessened by Truist Financial Corp

Truist Financial Corp cut its stake in shares of Discover Financial Services (NYSE:DFS) by 44.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 300,118 shares of the financial services provider’s stock after selling 242,302 shares during the quarter. Truist Financial Corp’s holdings in Discover Financial Services were worth $39,258,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Discover Financial Services in the 2nd quarter valued at $26,000. Y.D. More Investments Ltd lifted its stake in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after buying an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Discover Financial Services by 72.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after buying an additional 95 shares during the period. Larson Financial Group LLC increased its position in shares of Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 195 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in shares of Discover Financial Services during the first quarter valued at approximately $34,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DFS. BTIG Research assumed coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods increased their price objective on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Jefferies Financial Group raised their price objective on Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. StockNews.com started coverage on Discover Financial Services in a report on Thursday. They issued a “hold” rating on the stock. Finally, Barclays raised their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and an average price target of $132.94.

Discover Financial Services Price Performance

NYSE DFS opened at $137.32 on Thursday. The firm has a market cap of $34.44 billion, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 0.94 and a beta of 1.42. The stock’s 50-day moving average is $134.37 and its two-hundred day moving average is $129.50. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.54 EPS. On average, analysts anticipate that Discover Financial Services will post 12.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

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; 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.