Discover Financial Services (NYSE:DFS) Shares Purchased by Wolverine Asset Management LLC

Wolverine Asset Management LLC raised its position in shares of Discover Financial Services (NYSE:DFS) by 32.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,600 shares of the financial services provider’s stock after buying an additional 1,600 shares during the quarter. Wolverine Asset Management LLC’s holdings in Discover Financial Services were worth $1,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DFS. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Discover Financial Services during the third quarter valued at approximately $30,000. Grove Bank & Trust raised its stake in Discover Financial Services by 78.1% during the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares in the last quarter. Bfsg LLC acquired a new stake in Discover Financial Services during the fourth quarter valued at approximately $35,000. Hantz Financial Services Inc. acquired a new stake in Discover Financial Services during the fourth quarter valued at approximately $37,000. Finally, Venturi Wealth Management LLC raised its stake in Discover Financial Services by 27.4% during the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $194.21 on Friday. Discover Financial Services has a 12-month low of $118.74 and a 12-month high of $205.76. The firm has a market capitalization of $48.81 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The business has a 50 day simple moving average of $186.87 and a 200 day simple moving average of $163.19. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03.

Discover Financial Services (NYSE:DFS) last issued its quarterly 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 return on equity of 26.18% and a net margin of 17.29%. On average, equities research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The company 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 dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

Analyst Ratings Changes

DFS has been the topic of several research reports. 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 note on Friday, January 24th. Evercore ISI upped their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Barclays upped their target price 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 upped their target price on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $239.00 in a report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $186.46.

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.