Quarry LP Purchases 32,325 Shares of Discover Financial Services (NYSE:DFS)

Quarry LP boosted its stake in Discover Financial Services (NYSE:DFS - Free Report) by 5,964.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,867 shares of the financial services provider's stock after buying an additional 32,325 shares during the quarter. Discover Financial Services makes up 0.8% of Quarry LP's investment portfolio, making the stock its 5th largest holding. Quarry LP's holdings in Discover Financial Services were worth $5,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Discover Financial Services by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider's stock valued at $5,377,961,000 after purchasing an additional 290,937 shares during the period. FMR LLC grew its position in shares of Discover Financial Services by 0.8% during the 4th quarter. FMR LLC now owns 7,553,016 shares of the financial services provider's stock valued at $1,308,409,000 after purchasing an additional 59,154 shares in the last quarter. Geode Capital Management LLC increased its stake in Discover Financial Services by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider's stock worth $1,082,826,000 after acquiring an additional 165,589 shares during the last quarter. Norges Bank purchased a new stake in Discover Financial Services in the fourth quarter valued at approximately $724,720,000. Finally, Invesco Ltd. lifted its holdings in shares of Discover Financial Services by 38.5% during the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider's stock worth $515,268,000 after acquiring an additional 826,287 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Stock Performance

Shares of DFS traded up $9.13 during trading hours on Friday, reaching $191.68. 1,035,986 shares of the company traded hands, compared to its average volume of 1,617,608. The business has a fifty day moving average price of $168.76 and a 200-day moving average price of $174.71. The stock has a market capitalization of $48.23 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 12-month low of $119.95 and a 12-month high of $205.76. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.92. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.25 billion. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. During the same period in the previous year, the firm earned $1.10 EPS. Equities analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DFS. Barclays boosted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. StockNews.com cut shares of Discover Financial Services from a "buy" rating to a "hold" rating in a research report on Tuesday, April 15th. TD Securities dropped their target price on shares of Discover Financial Services from $188.00 to $184.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company raised their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an "equal weight" rating in a research report on Friday, January 24th. Finally, Argus upgraded shares of Discover Financial Services to a "strong-buy" rating in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services currently has an average rating of "Moderate Buy" and an average price target of $188.91.

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.