Exchange Traded Concepts LLC Sells 1,508 Shares of Discover Financial Services (NYSE:DFS)

Exchange Traded Concepts LLC reduced its position in Discover Financial Services (NYSE:DFS) by 24.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,642 shares of the financial services provider’s stock after selling 1,508 shares during the period. Exchange Traded Concepts LLC’s holdings in Discover Financial Services were worth $804,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in shares of Discover Financial Services by 0.6% in the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after buying an additional 56 shares during the period. Invst LLC increased its stake in shares of Discover Financial Services by 0.9% in the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 62 shares during the period. CTC Alternative Strategies Ltd. increased its stake in shares of Discover Financial Services by 3.2% in the 3rd quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock valued at $287,000 after buying an additional 63 shares during the period. Eagle Bluffs Wealth Management LLC increased its stake in shares of Discover Financial Services by 0.5% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock valued at $2,034,000 after buying an additional 67 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Discover Financial Services by 27.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays lifted their target price on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Truist Financial lifted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock 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 research note on Friday, January 24th. Finally, Royal Bank of Canada boosted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $182.64.

Read Our Latest Stock Report on DFS

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $201.13 on Thursday. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46. The stock’s 50-day moving average is $179.90 and its 200-day moving average is $155.83. Discover Financial Services has a one year low of $104.08 and a one year high of $204.93. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03.

Discover Financial Services (NYSE:DFSGet Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. Equities analysts predict that Discover Financial Services will post 12.82 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.39%. Discover Financial Services’s payout ratio is presently 17.54%.

Discover Financial Services Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding DFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Discover Financial Services (NYSE:DFSFree Report).

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

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