Grove Bank & Trust increased its stake in Discover Financial Services (NYSE:DFS) by 78.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 203 shares of the financial services provider’s stock after buying an additional 89 shares during the quarter. Grove Bank & Trust’s holdings in Discover Financial Services were worth $35,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. National Pension Service grew its position in shares of Discover Financial Services by 14.8% in the third quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after purchasing an additional 56,814 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock worth $16,202,000 after buying an additional 10,946 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new position in Discover Financial Services during the second quarter worth about $4,835,000. Janney Montgomery Scott LLC purchased a new position in Discover Financial Services during the third quarter worth about $2,415,000. Finally, Meyer Handelman Co. purchased a new position in Discover Financial Services during the fourth quarter worth about $239,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
DFS has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Evercore ISI lifted their price target on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, StockNews.com raised Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $171.71.
Discover Financial Services Trading Up 1.2 %
DFS opened at $187.17 on Tuesday. The business has a 50 day simple moving average of $176.94 and a two-hundred day simple moving average of $152.55. The firm has a market capitalization of $47.04 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 0.99 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03. Discover Financial Services has a one year low of $96.46 and a one year high of $189.27.
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.
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