Hsbc Holdings PLC Sells 307,564 Shares of Discover Financial Services (NYSE:DFS)

Hsbc Holdings PLC lessened its holdings in Discover Financial Services (NYSE:DFS - Free Report) by 20.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,167,867 shares of the financial services provider's stock after selling 307,564 shares during the period. Hsbc Holdings PLC owned approximately 0.46% of Discover Financial Services worth $202,431,000 at the end of the most recent quarter.

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

Discover Financial Services Price Performance

Shares of DFS stock traded up $0.06 during trading on Monday, hitting $184.92. The company had a trading volume of 749,848 shares, compared to its average volume of 1,607,160. The firm has a market capitalization of $46.53 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. 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's 50-day moving average price is $169.86 and its 200 day moving average price is $174.05. Discover Financial Services has a one year low of $119.95 and a one year high of $205.76.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.25 billion. Equities analysts expect that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target 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. Barclays raised their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Wells Fargo & Company lifted their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced 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 report on Tuesday, April 8th. Finally, UBS Group raised 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 report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $188.91.

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.