Equitec Proprietary Markets LLC Takes Position in Discover Financial Services (NYSE:DFS)

Equitec Proprietary Markets LLC bought a new stake in Discover Financial Services (NYSE:DFS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,000 shares of the financial services provider’s stock, valued at approximately $173,000. Discover Financial Services comprises 0.2% of Equitec Proprietary Markets LLC’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. grew its position in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after buying an additional 157 shares in the last quarter. Grove Bank & Trust grew its position 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 worth $35,000 after buying an additional 89 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Discover Financial Services during the third quarter worth approximately $30,000. Hantz Financial Services Inc. acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at $37,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Down 1.5 %

Shares of NYSE:DFS opened at $199.73 on Monday. The firm has a market cap of $50.19 billion, a P/E ratio of 12.51, a P/E/G ratio of 0.63 and a beta of 1.46. 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 has a 12-month low of $106.65 and a 12-month high of $205.76. The business has a fifty day simple moving average of $183.23 and a 200 day simple moving average of $159.09.

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, topping 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%. Analysts predict that Discover Financial Services will post 13.57 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analyst Ratings Changes

A number of brokerages have weighed in on DFS. 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. Truist Financial raised 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. Barclays raised 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. UBS Group raised 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, Evercore ISI raised 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. Ten research 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 target price 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.