Discover Financial Services (NYSE:DFS) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in shares of Discover Financial Services (NYSE:DFS) by 8.5% during the fourth quarter, Holdings Channel reports. The fund owned 60,037 shares of the financial services provider’s stock after purchasing an additional 4,711 shares during the quarter. ProShare Advisors LLC’s holdings in Discover Financial Services were worth $10,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $33,000. Flagship Wealth Advisors LLC purchased a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $34,000. Bfsg LLC acquired a new stake in Discover Financial Services during the fourth quarter worth approximately $35,000. Grove Bank & Trust grew its stake in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in Discover Financial Services in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Price Performance

DFS opened at $201.10 on Friday. Discover Financial Services has a 52-week low of $119.95 and a 52-week high of $207.42. The company has a 50 day moving average of $172.34 and a two-hundred day moving average of $178.47. The company has a market cap of $50.61 billion, a P/E ratio of 12.60, a P/E/G 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 (NYSE:DFS) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share 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 firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the prior year, the company earned $1.10 EPS. On average, analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DFS. Truist Financial raised their price objective on Discover Financial Services from $219.00 to $229.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Barclays raised their price target on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Royal Bank of Canada upped their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. TD Securities decreased their target price 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. Finally, Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Discover Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $191.64.

Discover Financial Services 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.