Discover Financial Services (NYSE:DFS) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky cut its stake in Discover Financial Services (NYSE:DFS) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,925 shares of the financial services provider’s stock after selling 697 shares during the quarter. Independence Bank of Kentucky’s holdings in Discover Financial Services were worth $841,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Discover Financial Services by 2.9% during the 4th quarter. Brighton Jones LLC now owns 4,378 shares of the financial services provider’s stock valued at $758,000 after buying an additional 125 shares during the period. Stratos Wealth Partners LTD. grew its position in Discover Financial Services by 0.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 57 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Discover Financial Services by 31.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,466 shares of the financial services provider’s stock valued at $4,781,000 after purchasing an additional 6,599 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Discover Financial Services during the fourth quarter worth $39,067,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Discover Financial Services by 0.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 561,822 shares of the financial services provider’s stock worth $97,324,000 after purchasing an additional 3,134 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $197.76 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. Discover Financial Services has a 1 year low of $120.97 and a 1 year high of $207.42. The firm’s 50-day simple moving average is $182.49 and its 200-day simple moving average is $181.46. The firm has a market cap of $49.77 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data 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. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period in the previous year, the company earned $1.10 earnings per share. Equities analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DFS. Jefferies Financial Group reaffirmed a “hold” rating and set a $180.00 price target on shares of Discover Financial Services in a report on Wednesday, May 7th. Wall Street Zen cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Truist Financial raised their target price on Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their price target on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Finally, TD Securities reduced their price target on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $191.64.

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.