Discover Financial Services (NYSE:DFS) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank raised its stake in Discover Financial Services (NYSE:DFS) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,021 shares of the financial services provider’s stock after purchasing an additional 4,810 shares during the period. Toronto Dominion Bank owned 0.06% of Discover Financial Services worth $20,225,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its stake in Discover Financial Services by 7.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,565 shares of the financial services provider’s stock valued at $3,532,000 after purchasing an additional 2,091 shares during the last quarter. Dana Investment Advisors Inc. increased its stake in Discover Financial Services by 7.0% in the third quarter. Dana Investment Advisors Inc. now owns 270,609 shares of the financial services provider’s stock valued at $33,244,000 after purchasing an additional 17,601 shares during the last quarter. Achmea Investment Management B.V. increased its stake in Discover Financial Services by 113.4% in the third quarter. Achmea Investment Management B.V. now owns 23,130 shares of the financial services provider’s stock valued at $2,842,000 after purchasing an additional 12,291 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Discover Financial Services by 1.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 64,836 shares of the financial services provider’s stock worth $7,492,000 after acquiring an additional 1,224 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Discover Financial Services during the third quarter worth approximately $1,266,000. Institutional investors own 84.95% of the company’s stock.

DFS has been the topic of a number of research reports. Piper Sandler upgraded shares of Discover Financial Services from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $125.00 to $142.00 in a research report on Monday, January 24th. They noted that the move was a valuation call. Barclays lifted their price objective on shares of Discover Financial Services from $146.00 to $158.00 and gave the company an “overweight” rating in a research report on Monday, January 10th. JPMorgan Chase & Co. reduced their target price on Discover Financial Services from $150.00 to $142.00 and set an “overweight” rating for the company in a report on Wednesday, January 19th. Deutsche Bank Aktiengesellschaft raised Discover Financial Services from a “hold” rating to a “buy” rating and raised their target price for the company from $140.00 to $145.00 in a report on Monday, February 14th. Finally, Credit Suisse Group raised their target price on Discover Financial Services from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 21st. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services currently has an average rating of “Buy” and an average target price of $138.05.

DFS stock traded up $2.73 during trading on Monday, hitting $114.91. The stock had a trading volume of 13,102 shares, compared to its average volume of 1,829,222. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $32.74 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 0.14 and a beta of 1.57. The company’s 50 day moving average price is $114.85 and its two-hundred day moving average price is $117.47. Discover Financial Services has a 1-year low of $94.91 and a 1-year high of $135.69.

Discover Financial Services (NYSE:DFSGet Rating) last posted its quarterly earnings results on Wednesday, January 19th. The financial services provider reported $3.64 EPS for the quarter, beating the consensus estimate of $3.61 by $0.03. The company had revenue of $2.94 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Discover Financial Services had a return on equity of 45.63% and a net margin of 41.22%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 EPS. As a group, sell-side analysts forecast that Discover Financial Services will post 14.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 3rd. Shareholders of record on Thursday, February 17th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.74%. The ex-dividend date was Wednesday, February 16th. Discover Financial Services’s dividend payout ratio (DPR) is 11.25%.

In other news, EVP Daniel Peter Capozzi sold 8,649 shares of the business’s stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $124.59, for a total transaction of $1,077,578.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Shifra Kolsky sold 800 shares of the business’s stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $127.00, for a total value of $101,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,892 shares of company stock valued at $1,747,661 in the last quarter. Company insiders own 0.59% of the company’s stock.

About Discover Financial Services (Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Discover Financial Services (NYSE:DFS)

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