Toronto Dominion Bank Has $21.25 Million Holdings in Discover Financial Services (NYSE:DFS)

Toronto Dominion Bank cut its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 122,650 shares of the financial services provider's stock after selling 3,363 shares during the quarter. Toronto Dominion Bank's holdings in Discover Financial Services were worth $21,246,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DFS. Norges Bank acquired a new stake in Discover Financial Services in the fourth quarter valued at about $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Discover Financial Services in the fourth quarter valued at about $351,766,000. Invesco Ltd. boosted 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 valued at $515,268,000 after buying an additional 826,287 shares in the last quarter. Third Point LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $110,867,000. Finally, Empyrean Capital Partners LP acquired a new stake in shares of Discover Financial Services during the fourth quarter valued at about $100,993,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DFS. Argus raised Discover Financial Services to a "strong-buy" rating in a research note on Friday, April 25th. 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 research note on Thursday, April 24th. Jefferies Financial Group reissued a "hold" rating and set a $180.00 price target on shares of Discover Financial Services in a research note on Wednesday, May 7th. Wall Street Zen lowered Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. cut 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. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.64.

Discover Financial Services Trading Down 1.4%

Shares of DFS traded down $2.73 during mid-day trading on Friday, reaching $197.76. 31,289,322 shares of the company were exchanged, compared to its average volume of 1,797,705. 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 quick ratio of 1.03 and a current ratio of 1.09. The stock 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. The business has a 50 day simple moving average of $176.14 and a two-hundred day simple moving average of $179.93.

Discover Financial Services (NYSE:DFS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping analysts' consensus estimates of $3.33 by $0.92. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $1.10 earnings per share. On average, analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

About Discover Financial Services

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.