Bell Bank Buys Shares of 1,408 Discover Financial Services (NYSE:DFS)

Bell Bank bought a new stake in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,408 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other large investors also recently bought and sold shares of the stock. Transcend Capital Advisors LLC acquired a new position in Discover Financial Services in the fourth quarter valued at about $201,000. Wolverine Asset Management LLC lifted its position in shares of Discover Financial Services by 32.0% during the fourth quarter. Wolverine Asset Management LLC now owns 6,600 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 1,600 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Discover Financial Services by 62.6% during the fourth quarter. Handelsbanken Fonder AB now owns 120,079 shares of the financial services provider’s stock worth $20,801,000 after purchasing an additional 46,234 shares in the last quarter. Financial Sense Advisors Inc. acquired a new stake in shares of Discover Financial Services during the fourth quarter worth about $732,000. Finally, Private Advisor Group LLC lifted its position in shares of Discover Financial Services by 12.4% during the fourth quarter. Private Advisor Group LLC now owns 14,811 shares of the financial services provider’s stock worth $2,566,000 after purchasing an additional 1,630 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Truist Financial increased their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Royal Bank of Canada increased their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods increased their price target 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. Finally, StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $186.46.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $194.21 on Friday. The firm has a market capitalization of $48.81 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.51 and a beta of 1.46. Discover Financial Services has a 52 week low of $118.74 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 firm’s 50 day moving average is $186.87 and its two-hundred day moving average is $163.19.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Research analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.44%. Discover Financial Services’s dividend payout ratio is currently 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.