Truist Financial Corp Has $35.58 Million Stock Position in Discover Financial Services (NYSE:DFS)

Truist Financial Corp decreased its stake in shares of Discover Financial Services (NYSE:DFS) by 2.7% during the 4th quarter, Holdings Channel reports. The firm owned 205,398 shares of the financial services provider’s stock after selling 5,698 shares during the period. Truist Financial Corp’s holdings in Discover Financial Services were worth $35,581,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc increased its holdings in shares of Discover Financial Services by 4.4% during the 4th quarter. CIBC Asset Management Inc now owns 38,536 shares of the financial services provider’s stock worth $6,676,000 after acquiring an additional 1,640 shares during the last quarter. Valmark Advisers Inc. increased its holdings in shares of Discover Financial Services by 24.9% during the 4th quarter. Valmark Advisers Inc. now owns 2,144 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 428 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Discover Financial Services by 40.7% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 2,107 shares of the financial services provider’s stock worth $365,000 after acquiring an additional 610 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $281,000. Finally, Legacy Capital Wealth Partners LLC increased its holdings in shares of Discover Financial Services by 4.5% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,616 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

NYSE:DFS opened at $196.96 on Wednesday. The stock has a fifty day moving average price of $185.09 and a 200-day moving average price of $161.40. The company has a market cap of $49.50 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 0.63 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a fifty-two week low of $118.74 and a fifty-two week high of $205.76.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that Discover Financial Services will post 13.57 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given 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 1.42%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays boosted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Truist Financial boosted their price target on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company boosted their price target on 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. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $186.46.

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.