Discover Financial Services (NYSE:DFS) Stake Lifted by CWA Asset Management Group LLC

CWA Asset Management Group LLC boosted its stake in Discover Financial Services (NYSE:DFS) by 24.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,042 shares of the financial services provider’s stock after buying an additional 4,887 shares during the period. CWA Asset Management Group LLC’s holdings in Discover Financial Services were worth $4,275,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DFS. Opal Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services during the 4th quarter valued at about $33,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $34,000. Mattson Financial Services LLC bought a new stake in Discover Financial Services during the fourth quarter worth approximately $34,000. Finally, Bfsg LLC acquired a new stake in Discover Financial Services in the fourth quarter worth approximately $35,000. 86.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DFS. 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 note on Thursday, April 24th. Jefferies Financial Group restated a “hold” rating and issued a $180.00 target price on shares of Discover Financial Services in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target 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. Wall Street Zen downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Truist Financial boosted their target price on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research note on Friday, April 25th. 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. According to MarketBeat, Discover Financial Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.64.

Discover Financial Services Stock Performance

DFS opened at $197.76 on Wednesday. The stock’s 50 day simple moving average is $188.14 and its 200-day simple moving average is $182.28. 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 stock has a market cap of $49.77 billion, a PE ratio of 12.39, a P/E/G ratio of 1.51 and a beta of 1.16. Discover Financial Services has a 1 year low of $122.34 and a 1 year high of $207.42.

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 analysts’ consensus estimates of $3.33 by $0.92. The company had revenue of $4.25 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $1.10 EPS. Sell-side analysts forecast that Discover Financial Services will post 13.88 EPS for the current 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.