SVB Wealth LLC Increases Stock Holdings in Discover Financial Services (NYSE:DFS)

SVB Wealth LLC boosted its stake in shares of Discover Financial Services (NYSE:DFS) by 17.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,680 shares of the financial services provider’s stock after buying an additional 1,568 shares during the period. SVB Wealth LLC’s holdings in Discover Financial Services were worth $1,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DFS. Bruce G. Allen Investments LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Discover Financial Services in the 4th quarter worth about $35,000. Resurgent Financial Advisors LLC bought a new stake in Discover Financial Services in the fourth quarter worth about $31,000. Compass Wealth Management LLC purchased a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $34,000. Finally, Aspire Private Capital LLC boosted its position in shares of Discover Financial Services by 180.0% during the fourth quarter. Aspire Private Capital LLC now owns 350 shares of the financial services provider’s stock valued at $34,240,500,000 after buying an additional 225 shares during the period. 86.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group cut their price objective on Discover Financial Services from $139.00 to $121.00 and set a “buy” rating on the stock in a research report on Friday, January 19th. Wolfe Research reiterated a “peer perform” rating on shares of Discover Financial Services in a report on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Discover Financial Services from $140.00 to $111.00 and set a “hold” rating on the stock in a research note on Friday, January 19th. Barclays lifted their price target on shares of Discover Financial Services from $112.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company increased their price objective on Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $125.22.

Discover Financial Services Price Performance

DFS opened at $124.27 on Friday. The firm has a market capitalization of $31.14 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 0.85 and a beta of 1.45. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day moving average is $121.69 and its two-hundred day moving average is $105.66. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $131.65.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.07 billion. During the same period in the previous year, the firm earned $3.58 EPS. Research analysts anticipate that Discover Financial Services will post 11.2 earnings per share for the current fiscal year.

Insider Transactions at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $106.51, for a total value of $3,748,193.41. Following the completion of the sale, the chief financial officer now owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

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; private student loans, 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.