Truist Financial Corp Has $227.91 Million Holdings in Discover Financial Services (NYSE:DFS)

Truist Financial Corp raised its holdings in Discover Financial Services (NYSE:DFS) by 239.6% in the fourth quarter, Holdings Channel reports. The fund owned 2,027,686 shares of the financial services provider’s stock after acquiring an additional 1,430,637 shares during the period. Truist Financial Corp’s holdings in Discover Financial Services were worth $227,912,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AE Wealth Management LLC increased its stake in Discover Financial Services by 10.6% during the 3rd quarter. AE Wealth Management LLC now owns 12,163 shares of the financial services provider’s stock worth $1,054,000 after purchasing an additional 1,165 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of Discover Financial Services by 37.8% during the third quarter. Coronation Fund Managers Ltd. now owns 86,814 shares of the financial services provider’s stock worth $7,521,000 after acquiring an additional 23,825 shares during the period. Czech National Bank lifted its position in Discover Financial Services by 45.3% in the 3rd quarter. Czech National Bank now owns 43,686 shares of the financial services provider’s stock valued at $3,785,000 after acquiring an additional 13,623 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Discover Financial Services by 3.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 97,166 shares of the financial services provider’s stock valued at $8,417,000 after acquiring an additional 3,249 shares in the last quarter. Finally, MCF Advisors LLC boosted its stake in Discover Financial Services by 27.6% in the 3rd quarter. MCF Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 812 shares during the period. 86.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DFS has been the topic of a number of research reports. Barclays boosted their price target on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $140.00 target price (up previously from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. HSBC raised their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Wolfe Research reissued a “peer perform” rating on shares of Discover Financial Services in a research report on Wednesday, February 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating for the company in a research report on Friday, January 19th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $126.29.

Discover Financial Services Stock Performance

NYSE:DFS traded up $2.03 on Friday, hitting $127.70. The company’s stock had a trading volume of 1,136,120 shares, compared to its average volume of 2,202,638. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65. The firm has a market capitalization of $32.00 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 0.78 and a beta of 1.45. The stock has a fifty day moving average of $123.80 and a two-hundred day moving average of $107.27. The company has a current ratio of 1.05, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter last year, the company posted $3.58 EPS. Research analysts predict that Discover Financial Services will post 11.39 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders 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 2.19%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is presently 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.