Proficio Capital Partners LLC Invests $36.22 Million in Discover Financial Services (NYSE:DFS)

Proficio Capital Partners LLC acquired a new position in Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 209,078 shares of the financial services provider’s stock, valued at approximately $36,219,000. Proficio Capital Partners LLC owned 0.08% of Discover Financial Services as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service raised its stake in Discover Financial Services by 14.8% during the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after purchasing an additional 56,814 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Discover Financial Services by 10.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after purchasing an additional 10,946 shares during the period. Brookstone Capital Management bought a new stake in Discover Financial Services during the 4th quarter valued at approximately $282,000. Meyer Handelman Co. bought a new stake in Discover Financial Services during the 4th quarter valued at approximately $239,000. Finally, Janney Montgomery Scott LLC bought a new stake in Discover Financial Services during the 3rd quarter valued at approximately $2,415,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $195.38 on Friday. The stock has a market cap of $49.16 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.51 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. The stock has a 50 day moving average price of $188.81 and a 200-day moving average price of $165.25. Discover Financial Services has a one year low of $118.74 and a one year 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 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 expect that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DFS shares. JPMorgan Chase & Co. lifted their target price 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. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Truist Financial lifted their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and a consensus price target of $191.91.

Discover Financial Services 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.