122,187 Shares in Discover Financial Services (NYSE:DFS) Acquired by Birnam Oak Advisors LP

Birnam Oak Advisors LP purchased a new position in Discover Financial Services (NYSE:DFS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 122,187 shares of the financial services provider’s stock, valued at approximately $21,166,000. Discover Financial Services makes up about 10.3% of Birnam Oak Advisors LP’s investment portfolio, making the stock its 3rd largest holding.

Other large investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $34,000. Signaturefd LLC raised its holdings in shares of Discover Financial Services by 2.1% during the 4th quarter. Signaturefd LLC now owns 7,461 shares of the financial services provider’s stock worth $1,292,000 after acquiring an additional 152 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Discover Financial Services by 5.9% during the 4th quarter. Parallel Advisors LLC now owns 6,894 shares of the financial services provider’s stock worth $1,194,000 after acquiring an additional 384 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in shares of Discover Financial Services by 8.3% during the 4th quarter. Gallacher Capital Management LLC now owns 2,076 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 159 shares in the last quarter. Finally, Sovereign Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $249,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Price Performance

DFS opened at $152.59 on Tuesday. 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. The business’s fifty day simple moving average is $187.16 and its 200-day simple moving average is $168.39. The company has a market capitalization of $38.39 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its quarterly 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%. On average, equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 dividend yield of 1.84%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is currently 17.54%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DFS. Truist Financial increased their price target on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada increased their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.