Ancora Advisors LLC Lowers Stock Position in Discover Financial Services (NYSE:DFS)

Ancora Advisors LLC decreased its position in Discover Financial Services (NYSE:DFS) by 6.4% during the first quarter, HoldingsChannel.com reports. The fund owned 12,852 shares of the financial services provider’s stock after selling 880 shares during the quarter. Ancora Advisors LLC’s holdings in Discover Financial Services were worth $1,685,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DFS. Norges Bank bought a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $322,199,000. Truist Financial Corp increased its position in shares of Discover Financial Services by 239.6% during the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after purchasing an additional 1,430,637 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $121,113,000. Envestnet Asset Management Inc. increased its position in shares of Discover Financial Services by 60.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after purchasing an additional 803,738 shares during the last quarter. Finally, Canoe Financial LP bought a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $72,265,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of DFS stock opened at $143.98 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $36.11 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 0.96 and a beta of 1.44. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The stock has a fifty day simple moving average of $130.10 and a two-hundred day simple moving average of $123.05.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a return on equity of 20.53% and a net margin of 12.88%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.54 EPS. On average, analysts predict that Discover Financial Services will post 12.23 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DFS. JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Jefferies Financial Group boosted their price objective on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Barclays boosted their price objective on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Wells Fargo & Company boosted their price objective on Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Finally, BMO Capital Markets boosted their price objective on Discover Financial Services from $115.00 to $119.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $131.33.

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; private student loans, 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.