Discover Financial Services (NYSE:DFS) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its stake in Discover Financial Services (NYSE:DFS) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,650 shares of the financial services provider’s stock after selling 3,363 shares during the quarter. Toronto Dominion Bank’s holdings in Discover Financial Services were worth $21,246,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DFS. Raymond James Financial Inc. acquired a new position in Discover Financial Services in the 4th quarter valued at about $38,489,000. Mechanics Bank Trust Department purchased a new stake in shares of Discover Financial Services during the fourth quarter worth about $234,000. JBGlobal.com LLC acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $346,000. AIA Group Ltd acquired a new position in shares of Discover Financial Services in the fourth quarter valued at approximately $1,854,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $33,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DFS has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Wells Fargo & Company lifted their price objective on 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. Argus upgraded Discover Financial Services to a “strong-buy” rating in a research note on Friday, April 25th. Jefferies Financial Group reiterated a “hold” rating and set a $180.00 target price on shares of Discover Financial Services in a research report on Wednesday, May 7th. Finally, TD Securities decreased their price target on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services currently has an average rating of “Moderate Buy” and an average price target of $191.64.

Discover Financial Services Stock Performance

Shares of NYSE:DFS opened at $197.76 on Tuesday. The business has a 50-day moving average of $173.02 and a two-hundred day moving average of $179.00. The firm has a market capitalization of $49.77 billion, a PE ratio of 12.39, a P/E/G ratio of 1.51 and a beta of 1.16. 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 12 month low of $119.95 and a 12 month high of $207.42.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.92. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, research analysts forecast 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.