Mascagni Wealth Management Inc. Purchases New Position in Discover Financial Services (NYSE:DFS)

Mascagni Wealth Management Inc. purchased a new stake in shares of Discover Financial Services (NYSE:DFS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 237 shares of the financial services provider’s stock, valued at approximately $41,000.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Discover Financial Services during the fourth quarter valued at approximately $38,489,000. AIA Group Ltd purchased a new position in Discover Financial Services during the fourth quarter valued at approximately $1,854,000. SBI Securities Co. Ltd. purchased a new position in Discover Financial Services during the fourth quarter valued at approximately $33,000. Janney Montgomery Scott LLC raised its position in Discover Financial Services by 3.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,826 shares of the financial services provider’s stock valued at $3,088,000 after acquiring an additional 611 shares in the last quarter. Finally, Trust Point Inc. purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $220,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DFS has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $180.00 price objective on shares of Discover Financial Services in a research report on Wednesday, May 7th. Wall Street Zen cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. cut their price objective 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 cut their price objective 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. Finally, Argus upgraded Discover Financial Services to a “strong-buy” rating in a research report on Friday, April 25th. Eight investment 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 stock. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.64.

Discover Financial Services Stock Performance

Shares of NYSE:DFS opened at $197.76 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. The business’s 50 day moving average price is $178.73 and its 200-day moving average price is $180.45. 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. Discover Financial Services has a 1 year low of $120.20 and a 1 year high of $207.42.

Discover Financial Services (NYSE:DFS) last issued its quarterly 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. The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates 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 company posted $1.10 earnings per share. As a group, equities research analysts expect 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.