Kraft Davis & Associates LLC Makes New $297,000 Investment in Discover Financial Services (NYSE:DFS)

Kraft Davis & Associates LLC purchased a new position in shares of Discover Financial Services (NYSE:DFS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,716 shares of the financial services provider’s stock, valued at approximately $297,000.

Other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in Discover Financial Services during the first quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new stake in shares of Discover Financial Services in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC raised its position in shares of Discover Financial Services by 438.2% during the 1st quarter. Golden State Wealth Management LLC now owns 183 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 149 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Discover Financial Services during the fourth quarter worth $33,000. Finally, Flagship Wealth Advisors LLC bought a new position in Discover Financial Services during the fourth quarter worth $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Stock Performance

DFS stock opened at $197.76 on Thursday. The company has a 50-day simple moving average of $192.63 and a 200 day simple moving average of $183.06. The company has a market capitalization of $49.77 billion, a P/E ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a fifty-two week low of $122.34 and a fifty-two week high of $207.42.

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, 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 company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same period in the previous year, the firm earned $1.10 EPS. Sell-side analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DFS. Jefferies Financial Group restated a “hold” rating and issued a $180.00 price target on shares of Discover Financial Services in a research report on Wednesday, May 7th. Argus raised shares of Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. TD Securities decreased their target price on Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Truist Financial increased their price target on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, Wall Street Zen downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Discover Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $191.64.

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.