CMC Financial Group Has $265,000 Stake in Discover Financial Services (NYSE:DFS)

CMC Financial Group boosted its position in shares of Discover Financial Services (NYSE:DFS) by 18.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,553 shares of the financial services provider’s stock after acquiring an additional 246 shares during the period. Discover Financial Services accounts for 0.6% of CMC Financial Group’s investment portfolio, making the stock its 25th biggest holding. CMC Financial Group’s holdings in Discover Financial Services were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DFS. Brighton Jones LLC lifted its position in Discover Financial Services by 2.9% during the 4th quarter. Brighton Jones LLC now owns 4,378 shares of the financial services provider’s stock worth $758,000 after acquiring an additional 125 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Discover Financial Services by 4.9% during the 4th quarter. DAVENPORT & Co LLC now owns 4,178 shares of the financial services provider’s stock worth $724,000 after purchasing an additional 194 shares during the period. Trust Point Inc. bought a new position in shares of Discover Financial Services during the 4th quarter worth about $220,000. Yousif Capital Management LLC increased its holdings in shares of Discover Financial Services by 3.3% during the 4th quarter. Yousif Capital Management LLC now owns 37,315 shares of the financial services provider’s stock worth $6,464,000 after purchasing an additional 1,187 shares during the period. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Discover Financial Services by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on DFS shares. Jefferies Financial Group restated a “hold” rating and set a $180.00 price objective on shares of Discover Financial Services in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped 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 report on Tuesday, April 8th. Truist Financial boosted their price objective on shares of Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Argus upgraded shares of Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Discover Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.64.

Discover Financial Services Stock Performance

NYSE DFS opened at $197.76 on Friday. The stock has a market cap of $49.77 billion, a P/E ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. Discover Financial Services has a twelve month low of $120.97 and a twelve month high of $207.42. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company’s 50-day simple moving average is $182.49 and its 200 day simple moving average is $181.40.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, beating 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 net margin of 17.29% and a return on equity of 26.18%. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, research analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal 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.