Signet Financial Management LLC Boosts Stake in Discover Financial Services (NYSE:DFS)

Signet Financial Management LLC raised its position in shares of Discover Financial Services (NYSE:DFS) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,464 shares of the financial services provider’s stock after acquiring an additional 224 shares during the period. Signet Financial Management LLC’s holdings in Discover Financial Services were worth $5,542,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Discover Financial Services by 2.9% in the fourth quarter. Brighton Jones LLC now owns 4,378 shares of the financial services provider’s stock worth $758,000 after buying an additional 125 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of 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 worth $1,067,000 after buying an additional 57 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of Discover Financial Services by 18.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,969 shares of the financial services provider’s stock worth $341,000 after buying an additional 305 shares during the period. Empowered Funds LLC boosted its position in shares of Discover Financial Services by 12.3% in the fourth quarter. Empowered Funds LLC now owns 5,928 shares of the financial services provider’s stock worth $1,027,000 after buying an additional 648 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Discover Financial Services by 32.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 10,174 shares of the financial services provider’s stock worth $1,762,000 after buying an additional 2,484 shares during the period. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DFS shares. Wall Street Zen downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price 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. TD Securities decreased their target price on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Jefferies Financial Group reissued a “hold” rating and issued a $180.00 price target on shares of Discover Financial Services in a report on Wednesday, May 7th. Finally, Truist Financial increased their price target on Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.64.

Discover Financial Services Trading Down 1.4%

Shares of NYSE DFS opened at $197.76 on Tuesday. The stock’s 50 day moving average price is $182.93 and its two-hundred day moving average price is $181.64. Discover Financial Services has a 52-week low of $120.97 and a 52-week high of $207.42. The stock has a market capitalization of $49.77 billion, a P/E ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. 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) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

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.