CIBC Private Wealth Group LLC Boosts Holdings in Discover Financial Services (NYSE:DFS)

CIBC Private Wealth Group LLC lifted its holdings in Discover Financial Services (NYSE:DFS) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,855 shares of the financial services provider’s stock after purchasing an additional 121 shares during the period. CIBC Private Wealth Group LLC’s holdings in Discover Financial Services were worth $4,195,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DFS. Vanguard Group Inc. grew its stake in shares of Discover Financial Services by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock worth $5,377,961,000 after acquiring an additional 290,937 shares in the last quarter. State Street Corp grew its stake in Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after purchasing an additional 80,601 shares in the last quarter. Norges Bank purchased a new stake in Discover Financial Services during the 4th quarter worth about $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Discover Financial Services in the 4th quarter valued at about $351,766,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Discover Financial Services by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,738,804 shares of the financial services provider’s stock valued at $301,213,000 after buying an additional 10,528 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 0.2 %

Discover Financial Services stock opened at $170.32 on Wednesday. The company has a market capitalization of $42.85 billion, a P/E ratio of 10.67, a PEG ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The stock has a 50-day simple moving average of $183.68 and a 200-day simple moving average of $170.89.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share 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 research analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently declared 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 yield of 1.64%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Analysts Set New Price Targets

Several analysts recently weighed in on DFS shares. Wells Fargo & Company raised their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Barclays increased 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. Royal Bank of Canada lifted their price target 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, Keefe, Bruyette & Woods increased their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $192.40.

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.