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Nomura Holdings Inc. takes a $6.83 million position in Discover Financial Services (NYSE:DFS)

Nomura Holdings Inc. bought a new stake in Discover Financial Services (NYSE:DFS – Free Report) in the fourth quarter, the company said in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 60,721 shares of the financial services company, worth approximately $6,825,000.

A number of other institutional investors have also recently changed their holdings of DFS. Norges Bank bought a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $322,199,000. Truist Financial Corp grew its holdings in shares of Discover Financial Services by 239.6% in the fourth quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after purchasing an additional 1,430,637 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Discover Financial Services in the fourth quarter worth approximately $121,113,000. Palestra Capital Management LLC acquired a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $81,865,000. Finally, AQR Capital Management LLC grew its holdings in shares of Discover Financial Services by 336.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,133,784 shares of the financial services provider’s stock valued at $98,220,000 after purchasing an additional 874,020 shares in the last quarter. Institutional investors own 86.94% of the company’s shares.

Changes in analyst ratings

A number of brokers have recently expressed their opinions on DFS. BTIG Research weighed in on coverage of Discover Financial Services stock in a report on Friday. They gave the company a ‘neutral’ rating. Piper Sandler raised their price target on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, February 23. Barclays lifted their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an “equalweight” rating in a report on Friday, April 19. JPMorgan Chase & Co. raised their target price on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3. Finally, Wells Fargo & Company raised their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equalweight” rating in a report on Wednesday, April 10. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $126.29.

Check out our latest stock report on Discover Financial Services

Discover financial services rising 0.8%

DFS opened at $125.87 on Tuesday. The stock has a market cap of $31.54 billion, a price-to-earnings ratio of 14.35, a price-to-earnings ratio of 0.76 and a beta of 1.41. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The company’s fifty day simple moving average is $124.32 and its 200 day simple moving average is $115.98. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS – Get Free Report) posted its latest quarterly earnings data on Thursday, April 18. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same period last year, the company posted earnings per share of $3.58. As a group, research analysts expect Discover Financial Services to post earnings per share of 11.48 for the current fiscal year.

Discover Financial Services’ dividend announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6. Investors of record received a $0.70 dividend on Thursday, May 23. The ex-dividend date was Wednesday, May 22. This represents a dividend of $2.80 annually and a yield of 2.22%. Discover Financial Services’ dividend payout ratio currently stands at 31.93%.

Discover the 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 loans; and direct-to-consumer deposit products, including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and sweep accounts.

Also see

Quarterly Institutional Ownership for Discover Financial Services (NYSE:DFS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

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