Gulf International Bank UK Ltd Has $2.34 Million Stock Holdings in Discover Financial Services (NYSE:DFS)
Gulf International Bank UK Ltd decreased its position in shares of Discover Financial Services (NYSE:DFS – Free Report) by 12.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,800 shares of the financial services provider’s stock after selling 2,881 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Discover Financial Services were worth $2,337,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new position in Discover Financial Services in the 4th quarter worth $28,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Discover Financial Services in the 3rd quarter valued at about $30,000. Resurgent Financial Advisors LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at about $31,000. Pinnacle Bancorp Inc. raised its holdings in Discover Financial Services by 282.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 282 shares during the period. Finally, Compass Wealth Management LLC bought a new position in Discover Financial Services in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 83.63% of the company’s stock.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. BMO Capital Markets lowered their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the stock from $94.00 to $116.00 in a report on Wednesday, December 6th. Morgan Stanley raised shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. Seaport Res Ptn cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Finally, Piper Sandler lifted their price objective on shares of Discover Financial Services from $127.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $121.83.
Insider Activity
In related news, CFO John Greene sold 35,191 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the completion of the sale, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.
Discover Financial Services Trading Up 1.1 %
NYSE:DFS opened at $127.18 on Friday. The company has a 50-day moving average price of $113.38 and a 200-day moving average price of $100.40. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $127.89. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49. The stock has a market cap of $31.87 billion, a price-to-earnings ratio of 11.30, a P/E/G ratio of 1.34 and a beta of 1.45.
Discover Financial Services (NYSE:DFS – Get Free Report) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.10 billion. Discover Financial Services had a net margin of 14.30% and a return on equity of 22.24%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.77 earnings per share. Equities analysts predict that Discover Financial Services will post 11.13 EPS for the current year.
Discover Financial Services Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, February 21st. Discover Financial Services’s payout ratio is 24.89%.
Discover Financial Services Company 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.
Further Reading
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