SteelPeak Wealth LLC Takes Position in Discover Financial Services (NYSE:DFS)

SteelPeak Wealth LLC purchased a new stake in Discover Financial Services (NYSE:DFS) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 19,838 shares of the financial services provider’s stock, valued at approximately $3,386,000.

Several other hedge funds and other institutional investors have also modified their holdings of DFS. Rehmann Capital Advisory Group lifted its stake in Discover Financial Services by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 5,152 shares of the financial services provider’s stock valued at $892,000 after buying an additional 51 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Discover Financial Services by 4.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock valued at $244,000 after buying an additional 57 shares during the last quarter. MGO One Seven LLC lifted its stake in Discover Financial Services by 3.2% in the fourth quarter. MGO One Seven LLC now owns 1,821 shares of the financial services provider’s stock valued at $315,000 after buying an additional 57 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in Discover Financial Services by 2.3% in the first quarter. Miracle Mile Advisors LLC now owns 2,799 shares of the financial services provider’s stock valued at $478,000 after buying an additional 63 shares during the last quarter. Finally, Midwest Professional Planners LTD. lifted its stake in Discover Financial Services by 0.8% in the fourth quarter. Midwest Professional Planners LTD. now owns 8,464 shares of the financial services provider’s stock valued at $1,466,000 after buying an additional 64 shares during the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

NYSE:DFS opened at $197.76 on Friday. The business’s 50-day moving average price is $197.21 and its 200 day moving average price is $184.83. The firm 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 52-week low of $122.37 and a 52-week 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.

Discover Financial Services (NYSE:DFS) last released 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. 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 earned $1.10 earnings per share. As a group, 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

DFS has been the subject of several research analyst reports. Truist Financial upped 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. JPMorgan Chase & Co. reduced their price objective on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Argus raised shares of Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. TD Securities reduced their price objective on shares of Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $180.00 price objective on shares of Discover Financial Services in a report on Wednesday, May 7th. Seven 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.