Greenland Capital Management LP Has $9.04 Million Stock Position in Discover Financial Services (NYSE:DFS)

Greenland Capital Management LP boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 421.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,157 shares of the financial services provider’s stock after purchasing an additional 42,157 shares during the quarter. Discover Financial Services accounts for approximately 1.5% of Greenland Capital Management LP’s holdings, making the stock its 14th biggest position. Greenland Capital Management LP’s holdings in Discover Financial Services were worth $9,035,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in shares of Discover Financial Services in the fourth quarter valued at about $33,000. Flagship Wealth Advisors LLC acquired a new position in Discover Financial Services in the 4th quarter valued at approximately $34,000. Grove Bank & Trust lifted its position in shares of Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the period. Bfsg LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Discover Financial Services during the fourth quarter valued at approximately $37,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Performance

Discover Financial Services stock opened at $150.78 on Tuesday. The stock has a 50-day simple moving average of $180.36 and a 200 day simple moving average of $171.47. The stock has a market capitalization of $37.94 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12-month low of $119.31 and a 12-month high of $205.76.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is 17.54%.

Wall Street Analyst Weigh In

DFS has been the topic of a number of recent research reports. Truist Financial decreased their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. 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. Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $192.40.

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.