Sterling Capital Management LLC Sells 54,957 Shares of Discover Financial Services (NYSE:DFS)

Sterling Capital Management LLC lessened its stake in shares of Discover Financial Services (NYSE:DFS) by 77.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,279 shares of the financial services provider’s stock after selling 54,957 shares during the quarter. Sterling Capital Management LLC’s holdings in Discover Financial Services were worth $2,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DFS. SBI Securities Co. Ltd. acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $33,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $34,000. Bfsg LLC bought a new stake in shares of Discover Financial Services in the fourth quarter valued at about $35,000. Grove Bank & Trust grew its stake in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 89 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in Discover Financial Services during the fourth quarter worth about $37,000. Institutional investors own 86.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Truist Financial cut their price objective on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a report on Friday, March 21st. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective 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. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and an average target price of $188.40.

Discover Financial Services Trading Down 1.0 %

DFS opened at $156.98 on Friday. The company’s 50 day moving average is $175.40 and its 200-day moving average is $171.86. The company has a market cap of $39.50 billion, a P/E ratio of 9.84, a PEG ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 1-year low of $119.31 and a 1-year 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.

Discover Financial Services (NYSE:DFS) last posted 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 net margin of 17.29% and a return on equity of 26.18%. Equities research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.78%. Discover Financial Services’s dividend payout ratio is presently 17.54%.

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.