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

Parallel Advisors LLC raised its position in Discover Financial Services (NYSE:DFS) by 4.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,175 shares of the financial services provider’s stock after acquiring an additional 281 shares during the quarter. Parallel Advisors LLC’s holdings in Discover Financial Services were worth $1,225,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Discover Financial Services during the 4th quarter worth approximately $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Discover Financial Services in the fourth quarter valued at approximately $351,766,000. Invesco Ltd. grew its stake in shares of Discover Financial Services by 38.5% during the fourth quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock worth $515,268,000 after purchasing an additional 826,287 shares in the last quarter. GAMMA Investing LLC boosted its stake in Discover Financial Services by 16,786.2% in the first quarter. GAMMA Investing LLC now owns 784,366 shares of the financial services provider’s stock valued at $133,891,000 after acquiring an additional 779,721 shares in the last quarter. Finally, Third Point LLC acquired a new position in Discover Financial Services in the fourth quarter valued at $110,867,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Price Performance

Shares of DFS opened at $197.76 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The company has a market capitalization of $49.77 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16. Discover Financial Services has a fifty-two week low of $120.20 and a fifty-two week high of $207.42. The firm has a 50-day simple moving average of $179.29 and a 200-day simple moving average of $180.67.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.92. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.25 billion. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. During the same quarter last year, the firm earned $1.10 earnings per share. On average, equities research analysts anticipate that Discover Financial Services will post 13.88 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, April 15th. Truist Financial upped their price objective on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a research note on Friday, April 25th. TD Securities decreased 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 research note on Thursday, April 24th. Argus upgraded shares of Discover Financial Services to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $180.00 target price on shares of Discover Financial Services in a research note on Wednesday, May 7th. Eight equities research 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. According to data from MarketBeat.com, Discover Financial Services has an average rating of “Moderate Buy” and an average target price of $191.64.

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.