TIG Advisors LLC Invests $18.88 Million in Discover Financial Services (NYSE:DFS)

TIG Advisors LLC purchased a new position in shares of Discover Financial Services (NYSE:DFS) during the fourth quarter, Holdings Channel reports. The fund purchased 108,973 shares of the financial services provider’s stock, valued at approximately $18,877,000. Discover Financial Services accounts for approximately 1.3% of TIG Advisors LLC’s portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of DFS. SBI Securities Co. Ltd. acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $33,000. Flagship Wealth Advisors LLC purchased a new stake in Discover Financial Services during the fourth quarter worth approximately $34,000. Grove Bank & Trust boosted its holdings in shares of Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares in the last quarter. Bfsg LLC acquired a new position in Discover Financial Services in the fourth quarter valued at $35,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $37,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DFS has been the subject of a number of recent research reports. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. TD Securities dropped their target price on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Truist Financial boosted their price target on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average price target of $188.91.

Discover Financial Services Trading Up 0.4 %

Shares of Discover Financial Services stock opened at $185.58 on Tuesday. The firm has a market cap of $46.69 billion, a PE ratio of 11.63, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a fifty-two week low of $119.95 and a fifty-two week high of $205.76. The business’s fifty day moving average is $169.50 and its two-hundred day moving average is $174.33.

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

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.