Chevy Chase Trust Holdings LLC Sells 100 Shares of Discover Financial Services (NYSE:DFS)

Chevy Chase Trust Holdings LLC cut its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 131,829 shares of the financial services provider’s stock after selling 100 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Discover Financial Services were worth $22,503,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services during the first quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in Discover Financial Services during the 1st quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in Discover Financial Services in the fourth quarter valued at approximately $33,000. Flagship Wealth Advisors LLC bought a new position in Discover Financial Services in the fourth quarter valued at approximately $34,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $34,000. 86.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on DFS. Truist Financial raised their price objective on shares of Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a report on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. TD Securities cut their price target on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Wall Street Zen downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Finally, Argus upgraded Discover Financial Services to a “strong-buy” rating in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $191.64.

Discover Financial Services Stock Performance

DFS opened at $197.76 on Thursday. The business’s 50-day simple moving average is $192.63 and its 200 day simple moving average is $183.06. Discover Financial Services has a 52-week low of $122.34 and a 52-week high of $207.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The firm has a market capitalization of $49.77 billion, a PE ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $1.10 EPS. As a group, sell-side analysts expect that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Company 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.