Toronto Dominion Bank Sells 3,363 Shares of Discover Financial Services (NYSE:DFS)

Toronto Dominion Bank trimmed its holdings in Discover Financial Services (NYSE:DFS) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of DFS. Norges Bank bought a new position in shares of Discover Financial Services in the 4th quarter worth about $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Discover Financial Services in the 4th quarter worth about $351,766,000. Invesco Ltd. grew its position in Discover Financial Services by 38.5% during the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock valued at $515,268,000 after purchasing an additional 826,287 shares during the last quarter. Third Point LLC purchased a new stake in Discover Financial Services during the 4th quarter valued at about $110,867,000. Finally, Empyrean Capital Partners LP purchased a new stake in Discover Financial Services during the 4th quarter valued at about $100,993,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Stock Performance

DFS opened at $197.76 on Wednesday. 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 company has a market cap of $49.77 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. The company’s 50 day moving average is $177.52 and its 200 day moving average is $180.21. 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 quarterly earnings data 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. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.10 earnings per share. On average, equities research analysts predict that Discover Financial Services will post 13.88 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on DFS shares. Truist Financial increased their price objective on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research report on Friday, April 25th. TD Securities cut their price objective on shares of Discover Financial Services from $188.00 to $184.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group reissued a “hold” rating and set a $180.00 price objective on shares of Discover Financial Services in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Argus raised shares of Discover Financial Services to a “strong-buy” rating in a research report on Friday, April 25th. Eight equities research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $191.64.

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.