NewEdge Advisors LLC Purchases 2,726 Shares of Discover Financial Services (NYSE:DFS)

NewEdge Advisors LLC increased its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 27.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,546 shares of the financial services provider's stock after purchasing an additional 2,726 shares during the quarter. NewEdge Advisors LLC's holdings in Discover Financial Services were worth $2,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Discover Financial Services in the fourth quarter worth approximately $33,000. Flagship Wealth Advisors LLC purchased a new position in shares of Discover Financial Services during the fourth quarter worth about $34,000. Grove Bank & Trust increased its holdings in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 89 shares during the period. Bfsg LLC purchased a new position in Discover Financial Services during the 4th quarter worth $35,000. Finally, Hantz Financial Services Inc. acquired a new position in Discover Financial Services during the 4th quarter worth approximately $37,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DFS has been the topic of several recent analyst reports. Royal Bank of Canada upped their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a research report on Friday, January 24th. TD Securities dropped their price objective on shares of Discover Financial Services from $188.00 to $184.00 and set a "buy" rating for the company in a research note on Thursday. Truist Financial lifted 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. UBS Group upgraded Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, Wells Fargo & Company upped their price objective on 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. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $188.91.

Discover Financial Services Stock Performance

DFS stock traded down $2.44 during midday trading on Friday, hitting $185.02. The stock had a trading volume of 1,546,838 shares, compared to its average volume of 1,610,533. Discover Financial Services has a 52 week low of $119.95 and a 52 week high of $205.76. 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 stock has a 50-day simple moving average of $169.86 and a 200 day simple moving average of $174.05. The firm has a market capitalization of $46.55 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 1.51 and a beta of 1.20.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted 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 net margin of 17.29% and a return on equity of 26.18%. The company had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.25 billion. As a group, equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current 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.