Mission Wealth Management LP Makes New $267,000 Investment in Discover Financial Services (NYSE:DFS)

Mission Wealth Management LP purchased a new position in shares of Discover Financial Services (NYSE:DFS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,373 shares of the financial services provider’s stock, valued at approximately $267,000.

Other hedge funds have also made changes to their positions in the company. Xponance Inc. grew its holdings in Discover Financial Services by 2.7% in the 3rd quarter. Xponance Inc. now owns 31,876 shares of the financial services provider’s stock valued at $2,761,000 after buying an additional 850 shares during the period. Dakota Wealth Management acquired a new position in Discover Financial Services during the third quarter worth approximately $290,000. Raymond James & Associates increased its position in Discover Financial Services by 9.0% during the third quarter. Raymond James & Associates now owns 267,265 shares of the financial services provider’s stock worth $23,153,000 after purchasing an additional 22,022 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Discover Financial Services by 10.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 159,752 shares of the financial services provider’s stock worth $13,839,000 after purchasing an additional 14,708 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Discover Financial Services by 110.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,997 shares of the financial services provider’s stock valued at $1,213,000 after purchasing an additional 7,336 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on DFS shares. JPMorgan Chase & Co. upped their price objective on Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Citigroup raised their price objective on Discover Financial Services from $127.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Wolfe Research reiterated a “peer perform” rating on shares of Discover Financial Services in a report on Wednesday, February 21st. StockNews.com initiated coverage on shares of Discover Financial Services in a report on Saturday. They issued a “hold” rating on the stock. Finally, Evercore ISI boosted their price objective on shares of Discover Financial Services from $117.00 to $140.00 and gave the stock an “in-line” rating in a research note on Thursday, February 22nd. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and an average price target of $126.29.

Discover Financial Services Trading Up 0.4 %

NYSE:DFS opened at $125.06 on Friday. The firm has a market capitalization of $31.34 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.74 and a beta of 1.43. The business has a 50 day simple moving average of $124.34 and a 200 day simple moving average of $108.25. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.05 and a quick ratio of 1.13. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. During the same period last year, the firm posted $3.58 EPS. Equities research analysts predict that Discover Financial Services will post 11.48 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is currently 31.93%.

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; private student loans, 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.