Discover Financial Services (NYSE:DFS) Shares Acquired by Westchester Capital Management LLC

Westchester Capital Management LLC boosted its position in shares of Discover Financial Services (NYSE:DFS - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 146,703 shares of the financial services provider's stock after buying an additional 34,192 shares during the period. Discover Financial Services makes up about 1.4% of Westchester Capital Management LLC's portfolio, making the stock its 17th biggest holding. Westchester Capital Management LLC owned about 0.06% of Discover Financial Services worth $25,413,000 at the end of the most recent reporting period.

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

Discover Financial Services Stock Down 2.6 %

Shares of NYSE DFS traded down $4.78 during mid-day trading on Wednesday, reaching $180.59. The company had a trading volume of 1,265,995 shares, compared to its average volume of 1,615,113. 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 firm has a 50 day simple moving average of $169.21 and a two-hundred day simple moving average of $174.41. The stock has a market cap of $45.44 billion, a P/E ratio of 11.32, a PEG ratio of 1.51 and a beta of 1.20. Discover Financial Services has a 52-week low of $119.95 and a 52-week high of $205.76.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $4.25 billion for 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 business posted $1.10 earnings per share. Sell-side analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Analysts Set New Price Targets

DFS has been the subject of a number of research reports. Argus raised shares of Discover Financial Services to a "strong-buy" rating in a research note on Friday, April 25th. Wells Fargo & Company increased their price objective on shares of 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. UBS Group upgraded shares of Discover Financial Services from a "neutral" rating to a "buy" rating and increased their price target for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Truist Financial increased their price target on shares of Discover Financial Services from $219.00 to $229.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Finally, Barclays raised their price objective 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. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Discover Financial Services presently has a consensus rating of "Moderate Buy" and a consensus target price 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.