Modera Wealth Management LLC Grows Stock Position in Discover Financial Services (NYSE:DFS)

Modera Wealth Management LLC lifted its stake in shares of Discover Financial Services (NYSE:DFS) by 4.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,712 shares of the financial services provider’s stock after buying an additional 121 shares during the quarter. Modera Wealth Management LLC’s holdings in Discover Financial Services were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Discover Financial Services during the third quarter worth approximately $30,000. Grove Bank & Trust raised its position in Discover Financial Services by 78.1% in 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 in the last quarter. Bfsg LLC purchased a new position in Discover Financial Services in the fourth quarter worth $35,000. Hantz Financial Services Inc. purchased a new position in Discover Financial Services in the fourth quarter worth $37,000. Finally, Venturi Wealth Management LLC raised its position in Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of NYSE DFS opened at $178.91 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $45.01 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.51 and a beta of 1.46. The stock’s fifty day simple moving average is $189.18 and its 200 day simple moving average is $166.52. Discover Financial Services has a 52-week low of $118.74 and a 52-week high of $205.76.

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, 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%. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.57%. Discover Financial Services’s dividend payout ratio is 17.54%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial increased their price objective on Discover Financial Services from $233.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Barclays increased their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada raised their price objective 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. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the company from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.