Prana Capital Management LP Sells 21,109 Shares of Discover Financial Services (NYSE:DFS)

Prana Capital Management LP lessened its holdings in Discover Financial Services (NYSE:DFS) by 26.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 60,073 shares of the financial services provider’s stock after selling 21,109 shares during the period. Prana Capital Management LP’s holdings in Discover Financial Services were worth $10,406,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Discover Financial Services by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock valued at $5,377,961,000 after acquiring an additional 290,937 shares during the last quarter. FMR LLC lifted its stake in Discover Financial Services by 0.8% in the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider’s stock worth $1,308,409,000 after acquiring an additional 59,154 shares during the period. Geode Capital Management LLC lifted its stake in Discover Financial Services by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider’s stock worth $1,082,826,000 after acquiring an additional 165,589 shares during the period. Norges Bank purchased a new stake in Discover Financial Services in the fourth quarter worth about $724,720,000. Finally, Invesco Ltd. lifted its stake in Discover Financial Services by 38.5% in the fourth quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock worth $515,268,000 after acquiring an additional 826,287 shares during the period. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Trading Down 2.2%

Discover Financial Services stock opened at $199.67 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12 month low of $119.95 and a 12 month high of $207.42. The stock’s 50 day simple moving average is $170.61 and its two-hundred day simple moving average is $177.63. The firm has a market cap of $50.25 billion, a PE ratio of 12.51, a P/E/G ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last announced its earnings results 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 return on equity of 26.18% and a net margin of 17.29%. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. During the same quarter last year, the firm posted $1.10 EPS. Analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Argus raised shares of Discover Financial Services to a “strong-buy” rating in a research note on Friday, April 25th. Truist Financial increased their price target on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday, January 24th. Barclays increased their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Discover Financial Services currently has a consensus rating of “Moderate Buy” and an average 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.