Ferguson Wellman Capital Management Inc. Cuts Stock Position in Discover Financial Services (NYSE:DFS)

Ferguson Wellman Capital Management Inc. decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,903 shares of the financial services provider’s stock after selling 245 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Discover Financial Services were worth $2,755,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. DiNuzzo Private Wealth Inc. raised its position in shares of Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Discover Financial Services in the 3rd quarter worth approximately $30,000. Grove Bank & Trust raised its holdings in Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the period. Hantz Financial Services Inc. purchased a new position in Discover Financial Services during the fourth quarter worth $37,000. Finally, Venturi Wealth Management LLC grew its holdings in Discover Financial Services by 27.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DFS. Barclays boosted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Truist Financial lifted their price target on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wells Fargo & Company boosted 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. Finally, StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $186.46.

Discover Financial Services Stock Down 1.5 %

Shares of NYSE DFS opened at $199.73 on Monday. Discover Financial Services has a 52-week low of $106.65 and a 52-week high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company’s 50-day simple moving average is $183.23 and its 200-day simple moving average is $159.09. The firm has a market cap of $50.19 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.63 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate 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 analysts predict that Discover Financial Services will post 13.57 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

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.