Pinnacle Wealth Planning Services Inc. Has $215,000 Stock Holdings in Discover Financial Services (NYSE:DFS)

Pinnacle Wealth Planning Services Inc. reduced its holdings in Discover Financial Services (NYSE:DFS) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,239 shares of the financial services provider’s stock after selling 266 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Discover Financial Services were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $33,000. Bfsg LLC bought a new position in Discover Financial Services during the fourth quarter worth $35,000. Grove Bank & Trust grew its holdings 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 purchasing an additional 89 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Discover Financial Services in the third quarter valued at $30,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Discover Financial Services during the fourth quarter valued at about $37,000. 86.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DFS has been the subject of several research reports. Wells Fargo & Company raised their target price 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. Barclays raised their price objective on Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their target price on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Royal Bank of Canada increased 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, StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $191.91.

Discover Financial Services Stock Performance

Shares of DFS opened at $167.38 on Friday. The stock has a 50 day moving average of $189.03 and a 200 day moving average of $166.87. The company has a market capitalization of $42.11 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is 17.54%.

About Discover Financial Services

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.