TIAA Trust National Association Acquires 1,120 Shares of Discover Financial Services (NYSE:DFS)

TIAA Trust National Association grew its holdings in Discover Financial Services (NYSE:DFS) by 12.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,772 shares of the financial services provider’s stock after acquiring an additional 1,120 shares during the quarter. TIAA Trust National Association’s holdings in Discover Financial Services were worth $1,693,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Discover Financial Services during the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $33,000. Flagship Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the fourth quarter worth $34,000. Grove Bank & Trust raised its holdings in shares of Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $35,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Price Performance

Shares of DFS opened at $166.29 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The company’s fifty day simple moving average is $185.41 and its 200 day simple moving average is $169.63. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76. The company has a market cap of $41.84 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, research analysts forecast that Discover Financial Services will post 13.88 earnings per share 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. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.68%. Discover Financial Services’s payout ratio is 17.54%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Barclays increased their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Truist Financial cut their target price on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company raised their price target on shares of 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. Finally, UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $192.40.

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.