Cary Street Partners Financial LLC Takes Position in Discover Financial Services (NYSE:DFS)

Cary Street Partners Financial LLC bought a new position in shares of Discover Financial Services (NYSE:DFS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,142 shares of the financial services provider’s stock, valued at approximately $198,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Discover Financial Services during the 4th quarter valued at approximately $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Discover Financial Services in the 4th quarter valued at $351,766,000. Invesco Ltd. increased its position in shares of Discover Financial Services by 38.5% during the fourth quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock worth $515,268,000 after buying an additional 826,287 shares during the period. Third Point LLC bought a new position in Discover Financial Services during the fourth quarter worth $110,867,000. Finally, Pentwater Capital Management LP acquired a new position in Discover Financial Services in the fourth quarter valued at $92,678,000. 86.94% of the stock is owned by institutional investors.

Discover Financial Services Stock Performance

Shares of DFS stock opened at $190.10 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $168.89 and a two-hundred day simple moving average of $176.92. Discover Financial Services has a 12 month low of $119.95 and a 12 month high of $205.76. The firm has a market capitalization of $47.84 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.92. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the company earned $1.10 earnings per share. Analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DFS has been the subject of several research analyst reports. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Truist Financial boosted their price target on Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research note on Friday, April 25th. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Argus upgraded shares of Discover Financial Services to a “strong-buy” rating in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.64.

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; 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.