Polar Capital Holdings Plc Purchases New Stake in Discover Financial Services (NYSE:DFS)

Polar Capital Holdings Plc bought a new position in shares of Discover Financial Services (NYSE:DFS - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 47,501 shares of the financial services provider's stock, valued at approximately $8,229,000.

Several other institutional investors and hedge funds have also modified their holdings of DFS. SBI Securities Co. Ltd. acquired a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $33,000. Flagship Wealth Advisors LLC acquired a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $34,000. Grove Bank & Trust grew its position in shares of Discover Financial Services by 78.1% in the 4th 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 acquired a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of Discover Financial Services in the 4th quarter valued at approximately $37,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Stock Down 1.4%

Shares of Discover Financial Services stock traded down $2.73 on Wednesday, reaching $197.76. 31,289,322 shares of the company were exchanged, compared to its average volume of 1,789,095. Discover Financial Services has a one year low of $119.95 and a one year high of $207.42. The company has a market capitalization of $49.77 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. 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 company has a 50-day moving average of $173.80 and a 200 day moving average of $179.13.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping 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 company 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 business posted $1.10 EPS. On average, equities research analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on DFS shares. Truist Financial boosted their price objective on Discover Financial Services from $219.00 to $229.00 and gave the company a "buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. decreased their price objective on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their target price 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. Royal Bank of Canada boosted their target price on Discover Financial Services from $193.00 to $210.00 and gave the company a "sector perform" rating in a research note on Friday, January 24th. Finally, TD Securities cut their target price 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. 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 MarketBeat, the stock 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.