Cannon Global Investment Management LLC Invests $1.47 Million in Discover Financial Services (NYSE:DFS)

Cannon Global Investment Management LLC bought a new position in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,500 shares of the financial services provider’s stock, valued at approximately $1,472,000. Discover Financial Services makes up approximately 3.2% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 4th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DFS. SBI Securities Co. Ltd. purchased a new position in Discover Financial Services during the 4th quarter valued at about $33,000. Flagship Wealth Advisors LLC purchased a new position in Discover Financial Services during the 4th quarter worth approximately $34,000. Bfsg LLC purchased a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $35,000. Grove Bank & Trust boosted its stake in shares of Discover Financial Services by 78.1% in the fourth 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Discover Financial Services during the third quarter worth $30,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

DFS has been the subject of several analyst reports. Royal Bank of Canada upped 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. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Keefe, Bruyette & Woods increased their price target on 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, Barclays increased their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $192.40.

Discover Financial Services Price Performance

DFS stock opened at $164.90 on Monday. The stock has a 50-day moving average price of $186.18 and a two-hundred day moving average price of $169.10. Discover Financial Services has a 1 year low of $119.31 and a 1 year high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The stock has a market cap of $41.49 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (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%. Equities analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 1.70%. 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.