Driehaus Capital Management LLC Makes New Investment in Discover Financial Services (NYSE:DFS)

Driehaus Capital Management LLC acquired a new stake in Discover Financial Services (NYSE:DFS) during the 4th quarter, Holdings Channel.com reports. The firm acquired 4,954 shares of the financial services provider’s stock, valued at approximately $858,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DFS. SBI Securities Co. Ltd. purchased a new stake in Discover Financial Services during the fourth quarter worth about $33,000. Flagship Wealth Advisors LLC purchased a new position in Discover Financial Services in the 4th quarter valued at approximately $34,000. Grove Bank & Trust boosted its position in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the period. Bfsg LLC acquired a new position in shares of Discover Financial Services in the fourth quarter worth $35,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Discover Financial Services during the fourth quarter worth $37,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. 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 report on Tuesday, April 8th. Truist Financial raised their target price on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a report on Friday, April 25th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Argus raised shares of Discover Financial Services to a “strong-buy” rating in a research report on Friday, April 25th. Finally, TD Securities decreased their price objective on shares of 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. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.64.

Discover Financial Services Stock Performance

NYSE DFS opened at $190.10 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a 1 year low of $119.95 and a 1 year high of $205.76. The company has a market capitalization of $47.84 billion, a PE ratio of 11.91, a P/E/G ratio of 1.51 and a beta of 1.16. The company has a fifty day moving average of $168.89 and a two-hundred day moving average of $176.68.

Discover Financial Services (NYSE:DFS) 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 business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.25 billion. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. During the same period in the previous year, the business earned $1.10 EPS. As a group, analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

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.