Stratos Wealth Partners LTD. Has $778,000 Stock Holdings in Discover Financial Services (NYSE:DFS)

Posted by on Oct 2nd, 2023

Stratos Wealth Partners LTD. lifted its stake in shares of Discover Financial Services (NYSE:DFS – Free Report) by 16.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,661 shares of the financial services provider’s stock after buying an additional 925 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Discover Financial Services were worth $778,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Sciencast Management LP lifted its stake in shares of Discover Financial Services by 1.4% during the 2nd quarter. Sciencast Management LP now owns 6,895 shares of the financial services provider’s stock worth $811,000 after buying an additional 95 shares during the last quarter. Penserra Capital Management LLC lifted its stake in shares of Discover Financial Services by 7.2% during the 4th quarter. Penserra Capital Management LLC now owns 1,451 shares of the financial services provider’s stock worth $141,000 after buying an additional 97 shares during the last quarter. Toroso Investments LLC lifted its stake in shares of Discover Financial Services by 3.1% during the 1st quarter. Toroso Investments LLC now owns 3,299 shares of the financial services provider’s stock worth $364,000 after buying an additional 98 shares during the last quarter. TIAA FSB lifted its stake in shares of Discover Financial Services by 1.2% during the 4th quarter. TIAA FSB now owns 8,532 shares of the financial services provider’s stock worth $835,000 after buying an additional 102 shares during the last quarter. Finally, River Street Advisors LLC increased its position in Discover Financial Services by 1.2% during the first quarter. River Street Advisors LLC now owns 9,408 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.

Discover Financial Services Trading Up 0.3 %

Shares of Discover Financial Services stock opened at $86.63 on Monday. The firm has a market capitalization of $21.65 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.44. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.58. The firm’s 50 day moving average is $94.31 and its 200 day moving average is $101.57. Discover Financial Services has a 1 year low of $84.43 and a 1 year high of $122.50.

Discover Financial Services (NYSE:DFS – Get Free Report) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.16). The company 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 company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $3.96 earnings per share. Equities research analysts forecast that Discover Financial Services will post 12.93 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $2.80 annualized dividend and a yield of 3.23%. Discover Financial Services’s dividend payout ratio is presently 19.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Wolfe Research raised shares of 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. Stephens reaffirmed an “equal weight” rating and set a $116.00 price target on shares of Discover Financial Services in a research report on Tuesday, August 15th. Citigroup lowered their price target on shares of Discover Financial Services from $119.00 to $108.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. Finally, Royal Bank of Canada lowered their price target on shares of 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. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and an average price target of $112.33.

View Our Latest Research Report on DFS

Discover Financial Services 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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