Discover Financial Services (NYSE:DFS) Position Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in Discover Financial Services (NYSE:DFS) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 581,989 shares of the financial services provider’s stock after selling 22,486 shares during the quarter. Thrivent Financial for Lutherans owned about 0.23% of Discover Financial Services worth $100,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services in the 3rd quarter worth approximately $30,000. SBI Securities Co. Ltd. acquired a new stake in Discover Financial Services in the fourth quarter worth approximately $33,000. Flagship Wealth Advisors LLC acquired a new stake in Discover Financial Services in the fourth quarter worth approximately $34,000. Grove Bank & Trust lifted 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 purchasing an additional 89 shares during the period. Finally, Bfsg LLC acquired a new stake in Discover Financial Services in the fourth quarter worth approximately $35,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Price Performance

DFS opened at $158.91 on Wednesday. The stock has a fifty day moving average of $186.78 and a 200-day moving average of $168.54. The firm has a market capitalization of $39.98 billion, a P/E ratio of 9.96, 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 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 (EPS) for the quarter, beating 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%. Equities analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.76%. Discover Financial Services’s payout ratio is currently 17.54%.

Wall Street Analyst Weigh In

DFS has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Barclays upped 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 upped their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Truist Financial increased their price objective on Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus price target 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.