CMC Financial Group Invests $226,000 in Discover Financial Services (NYSE:DFS)

CMC Financial Group acquired a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,307 shares of the financial services provider’s stock, valued at approximately $226,000. Discover Financial Services comprises about 0.5% of CMC Financial Group’s investment portfolio, making the stock its 24th biggest position.

Several other hedge funds have also made changes to their positions in DFS. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Discover Financial Services in the 4th quarter worth $351,766,000. FMR LLC raised its position in Discover Financial Services by 8.0% in the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after purchasing an additional 558,227 shares during the period. Vanguard Group Inc. grew its stake in shares of Discover Financial Services by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock valued at $5,377,961,000 after acquiring an additional 290,937 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $39,067,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $38,489,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Wall Street Analysts Forecast Growth

DFS has been the subject of a number of research reports. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Barclays lifted 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. Truist Financial cut their price target on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada boosted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $192.40.

Discover Financial Services Trading Up 0.3 %

NYSE DFS opened at $164.90 on Monday. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. 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 market cap of $41.49 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.51 and a beta of 1.45. The firm’s 50 day moving average price is $186.18 and its two-hundred day moving average price is $169.10.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Equities analysts anticipate that Discover Financial Services will post 13.88 EPS for the current 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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 17.54%.

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.