Parallel Advisors LLC Raises Stock Holdings in Discover Financial Services (NYSE:DFS)

Parallel Advisors LLC grew its position in shares of Discover Financial Services (NYSE:DFS) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,894 shares of the financial services provider’s stock after buying an additional 384 shares during the period. Parallel Advisors LLC’s holdings in Discover Financial Services were worth $1,194,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $38,489,000. Nomura Asset Management Co. Ltd. increased its position in shares of Discover Financial Services by 10.5% during 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 purchasing an additional 10,946 shares during the period. Brookstone Capital Management acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $282,000. Meyer Handelman Co. acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $239,000. Finally, Mechanics Bank Trust Department acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $234,000. Institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Keefe, Bruyette & Woods raised their target price 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. 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 report on Monday, January 27th. 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 report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $191.91.

Discover Financial Services Stock Up 2.0 %

DFS stock opened at $162.05 on Thursday. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76. The company has a market cap of $40.77 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The business’s 50-day simple moving average is $186.51 and its 200 day simple moving average is $168.49. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last released its earnings results 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%. On average, research analysts anticipate 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 issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Discover Financial Services Company 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.