Discover Financial Services (NYSE:DFS) Shares Sold by Canoe Financial LP

Canoe Financial LP decreased its holdings in shares of Discover Financial Services (NYSE:DFS) by 14.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 528,267 shares of the financial services provider’s stock after selling 92,815 shares during the period. Canoe Financial LP’s holdings in Discover Financial Services were worth $91,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. grew its position in shares of Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Discover Financial Services in the third quarter valued at approximately $30,000. Decker Retirement Planning Inc. bought a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $47,000. Pinnacle Bancorp Inc. raised its position in shares of Discover Financial Services by 37.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 79 shares during the period. Finally, Friedenthal Financial bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $51,000. 86.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial began coverage on Discover Financial Services in a research note on Tuesday, January 7th. They set a “buy” rating and a $233.00 price objective for the company. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. StockNews.com raised shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.75.

Discover Financial Services Price Performance

Shares of NYSE DFS opened at $187.17 on Friday. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $189.27. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average of $176.70 and a two-hundred day moving average of $151.90. The company 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.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 22.08%. During the same period in the prior year, the business earned $2.59 earnings per share. As a group, analysts expect that Discover Financial Services will post 14.17 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.