Woodline Partners LP Raises Position in Discover Financial Services (NYSE:DFS)

Woodline Partners LP increased its holdings in shares of Discover Financial Services (NYSE:DFS - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,134 shares of the financial services provider's stock after buying an additional 43,709 shares during the period. Woodline Partners LP owned about 0.09% of Discover Financial Services worth $37,268,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in DFS. Raymond James Financial Inc. purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $38,489,000. Mechanics Bank Trust Department purchased a new position in Discover Financial Services in the fourth quarter worth approximately $234,000. JBGlobal.com LLC acquired a new position in Discover Financial Services during the 4th quarter worth approximately $346,000. AIA Group Ltd acquired a new position in Discover Financial Services during the 4th quarter worth approximately $1,854,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $33,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Performance

NYSE:DFS traded down $2.73 during trading hours on Monday, reaching $197.76. 31,289,322 shares of the company's stock were exchanged, compared to its average volume of 1,797,705. Discover Financial Services has a 1-year low of $119.95 and a 1-year high of $207.42. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $49.77 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.51 and a beta of 1.16. The company has a 50-day moving average of $176.14 and a 200 day moving average of $179.93.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its 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 net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.25 billion. During the same period in the prior year, the company earned $1.10 earnings per share. Research analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. TD Securities decreased their target price on Discover Financial Services from $188.00 to $184.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Argus raised Discover Financial Services to a "strong-buy" rating in a report on Friday, April 25th. Wall Street Zen cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Truist Financial boosted their price objective on shares of Discover Financial Services from $219.00 to $229.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Eight 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $191.64.

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.