Discover Financial Services (NYSE:DFS) Shares Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC lifted its holdings in shares of Discover Financial Services (NYSE:DFS) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,076 shares of the financial services provider’s stock after acquiring an additional 159 shares during the quarter. Gallacher Capital Management LLC’s holdings in Discover Financial Services were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp lifted its holdings in shares of Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock valued at $1,472,771,000 after acquiring an additional 80,601 shares in the last quarter. FMR LLC lifted its holdings in Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after buying an additional 558,227 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Discover Financial Services in the 4th quarter worth $351,766,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Discover Financial Services by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after buying an additional 12,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Discover Financial Services by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,738,804 shares of the financial services provider’s stock worth $301,213,000 after buying an additional 10,528 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on DFS. Barclays boosted their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada boosted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Truist Financial upped their target price on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company upped their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $191.91.

Discover Financial Services Stock Up 3.4 %

Shares of NYSE:DFS opened at $164.67 on Friday. The company has a market cap of $41.43 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The firm has a 50 day simple moving average of $187.69 and a 200 day simple moving average of $168.06. Discover Financial Services has a 52 week low of $119.31 and a 52 week high of $205.76.

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, topping 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%. As a group, research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

About Discover Financial Services

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.