Silverlake Wealth Management LLC Invests $214,000 in Discover Financial Services (NYSE:DFS)

Silverlake Wealth Management LLC bought a new stake in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,236 shares of the financial services provider’s stock, valued at approximately $214,000.

Other large investors have also recently modified their holdings of the company. National Pension Service increased its position in shares of 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 last quarter. Nomura Asset Management Co. Ltd. grew its position in Discover Financial Services by 10.5% in 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 acquiring an additional 10,946 shares during the last quarter. Meyer Handelman Co. bought a new position in Discover Financial Services in the 4th quarter valued at $239,000. Brookstone Capital Management bought a new position in Discover Financial Services in the 4th quarter valued at $282,000. Finally, Janney Montgomery Scott LLC bought a new position in Discover Financial Services in the 3rd quarter valued at $2,415,000. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Up 1.7 %

Shares of NYSE DFS opened at $201.79 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The stock has a market capitalization of $50.71 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. Discover Financial Services has a 1-year low of $104.08 and a 1-year high of $205.76. The business has a fifty day moving average price of $182.09 and a 200 day moving average price of $157.92.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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 research analysts expect that Discover Financial Services will post 13.39 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DFS. Barclays upped their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Royal Bank of Canada upped their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. Evercore ISI increased their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $182.64.

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.