Ethic Inc. Buys 6,723 Shares of Discover Financial Services (NYSE:DFS)

Ethic Inc. boosted its stake in shares of Discover Financial Services (NYSE:DFS - Free Report) by 41.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,826 shares of the financial services provider's stock after acquiring an additional 6,723 shares during the period. Ethic Inc.'s holdings in Discover Financial Services were worth $3,954,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hemington Wealth Management lifted its holdings in Discover Financial Services by 11.0% during the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider's stock worth $87,000 after buying an additional 50 shares during the period. Rehmann Capital Advisory Group increased its position in Discover Financial Services by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 5,152 shares of the financial services provider's stock valued at $892,000 after buying an additional 51 shares in the last quarter. UMB Bank n.a. increased its position in Discover Financial Services by 0.6% in the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider's stock valued at $1,602,000 after buying an additional 56 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Discover Financial Services by 0.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider's stock valued at $1,067,000 after buying an additional 57 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Discover Financial Services by 4.2% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider's stock valued at $244,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company's stock.

Discover Financial Services Stock Performance

Shares of NYSE DFS traded up $1.86 during trading on Friday, reaching $202.34. 1,516,032 shares of the stock traded hands, compared to its average volume of 1,663,430. Discover Financial Services has a 52-week low of $119.95 and a 52-week high of $207.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The company has a 50-day moving average of $171.48 and a 200-day moving average of $177.96. The stock has a market capitalization of $50.92 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 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 analysts' expectations of $4.25 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. Analysts forecast that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DFS shares. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a report on Friday, January 24th. JPMorgan Chase & Co. cut their target price on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada lifted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research report on Friday, January 24th. Truist Financial boosted their price objective on Discover Financial Services from $219.00 to $229.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Finally, Barclays boosted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of "Moderate Buy" and an average target price of $191.64.

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.