Discover Financial Services (NYSE:DFS) Shares Bought by ExodusPoint Capital Management LP

Posted by on Sep 3rd, 2023

ExodusPoint Capital Management LP grew its position in shares of Discover Financial Services (NYSE:DFS – Free Report) by 309.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,130 shares of the financial services provider’s stock after acquiring an additional 12,944 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Discover Financial Services were worth $1,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DFS. Adirondack Retirement Specialists Inc. acquired a new stake in Discover Financial Services during the first quarter worth about $26,000. Sandy Spring Bank boosted its position in shares of Discover Financial Services by 133.3% in the fourth quarter. Sandy Spring Bank now owns 273 shares of the financial services provider’s stock worth $27,000 after buying an additional 156 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $29,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter worth about $31,000. Finally, Horizon Bancorp Inc. IN boosted its position in shares of Discover Financial Services by 76.1% in the first quarter. Horizon Bancorp Inc. IN now owns 347 shares of the financial services provider’s stock worth $34,000 after buying an additional 150 shares during the period. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

Shares of NYSE DFS opened at $92.06 on Friday. The stock has a fifty day moving average price of $105.55 and a two-hundred day moving average price of $104.48. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $23.01 billion, a P/E ratio of 6.38, a PEG ratio of 1.26 and a beta of 1.43. Discover Financial Services has a 1 year low of $87.64 and a 1 year high of $122.50.

Discover Financial Services (NYSE:DFS – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.16). The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.88 billion. Discover Financial Services had a net margin of 21.51% and a return on equity of 29.65%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.96 earnings per share. Research analysts forecast that Discover Financial Services will post 12.98 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Wednesday, August 23rd. Discover Financial Services’s payout ratio is currently 19.40%.

Wall Street Analyst Weigh In

DFS has been the topic of a number of research analyst reports. Piper Sandler downgraded Discover Financial Services from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $130.00 to $112.00 in a report on Friday, July 21st. Jefferies Financial Group increased their price target on Discover Financial Services from $125.00 to $135.00 in a research report on Tuesday, July 11th. Wolfe Research upgraded Discover Financial Services from a “peer perform” rating to an “outperform” rating and set a $104.00 price target on the stock in a research report on Thursday, August 24th. Royal Bank of Canada dropped their price target on Discover Financial Services from $142.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, July 21st. Finally, The Goldman Sachs Group dropped their price target on Discover Financial Services from $128.00 to $109.00 and set a “buy” rating on the stock in a research report on Monday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $113.13.

Check Out Our Latest Report on Discover Financial Services

Discover Financial Services Company Profile

(Free Report)

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.

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

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