Tower Research Capital LLC TRC Increases Position in Discover Financial Services (NYSE:DFS)

Tower Research Capital LLC TRC grew its holdings in shares of Discover Financial Services (NYSE:DFS) by 36.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,611 shares of the financial services provider’s stock after purchasing an additional 3,643 shares during the period. Tower Research Capital LLC TRC’s holdings in Discover Financial Services were worth $2,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hemington Wealth Management boosted its stake in Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 50 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Discover Financial Services by 0.6% during the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after buying an additional 56 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Discover Financial Services by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 57 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in Discover Financial Services by 4.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 57 shares during the last quarter. Finally, Invst LLC boosted its stake in Discover Financial Services by 0.9% during the 3rd quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of NYSE DFS opened at $172.47 on Wednesday. The stock has a market cap of $43.39 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 1 year low of $119.95 and a 1 year high of $205.76. The firm has a fifty day moving average price of $170.61 and a 200-day moving average price of $172.98. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 anticipate that Discover Financial Services will post 13.88 earnings per share 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. Investors of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial decreased their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Royal Bank of Canada raised their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Barclays increased their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $188.40.

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.