Grove Bank & Trust Buys 145 Shares of Discover Financial Services (NYSE:DFS)

Grove Bank & Trust grew its stake in Discover Financial Services (NYSE:DFS) by 71.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348 shares of the financial services provider’s stock after purchasing an additional 145 shares during the quarter. Grove Bank & Trust’s holdings in Discover Financial Services were worth $59,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DFS. Vanguard Group Inc. boosted its stake in Discover Financial Services by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock valued at $5,377,961,000 after purchasing an additional 290,937 shares during the period. FMR LLC lifted its holdings in shares of Discover Financial Services by 0.8% during the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider’s stock worth $1,308,409,000 after buying an additional 59,154 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Discover Financial Services by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider’s stock valued at $1,082,826,000 after acquiring an additional 165,589 shares during the period. Norges Bank acquired a new position in shares of Discover Financial Services in the fourth quarter valued at about $724,720,000. Finally, Invesco Ltd. increased its position in 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 acquiring an additional 826,287 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DFS shares. Wall Street Zen lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th. TD Securities reduced their price target on 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. Argus raised Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. Jefferies Financial Group reiterated a “hold” rating and set a $180.00 target price on shares of Discover Financial Services in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price target on Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Discover Financial Services has a consensus rating of “Moderate Buy” and an average target price of $191.64.

Discover Financial Services Stock Performance

NYSE:DFS opened at $197.76 on Thursday. Discover Financial Services has a twelve month low of $122.34 and a twelve month high of $207.42. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock’s 50-day simple moving average is $188.67 and its 200 day simple moving average is $182.38. The firm has a market capitalization of $49.77 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.51 and a beta of 1.16.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.92. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $1.10 earnings per share. On average, analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

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; 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.