Fiduciary Alliance LLC Makes New $506,000 Investment in Discover Financial Services (NYSE:DFS)

Fiduciary Alliance LLC acquired a new stake in Discover Financial Services (NYSE:DFS) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,920 shares of the financial services provider’s stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. City Center Advisors LLC bought a new position in shares of Discover Financial Services during the 4th quarter worth approximately $258,000. Aprio Wealth Management LLC bought a new position in shares of Discover Financial Services during the fourth quarter valued at $225,000. Czech National Bank boosted its stake in shares of Discover Financial Services by 6.4% in the 4th quarter. Czech National Bank now owns 54,438 shares of the financial services provider’s stock valued at $9,430,000 after purchasing an additional 3,292 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of Discover Financial Services by 1.3% in the 4th quarter. Fulton Bank N.A. now owns 6,480 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 84 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in shares of Discover Financial Services by 11.1% during the 4th quarter. CWA Asset Management Group LLC now owns 20,155 shares of the financial services provider’s stock worth $3,491,000 after purchasing an additional 2,017 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. StockNews.com cut shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada raised their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Truist Financial started coverage on Discover Financial Services in a research report on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. cut their price target on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $164.75.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $181.10 on Wednesday. Discover Financial Services has a 52 week low of $96.46 and a 52 week high of $188.26. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The stock has a market capitalization of $45.51 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.12 and a beta of 1.46. The firm has a fifty day moving average of $176.40 and a two-hundred day moving average of $151.42.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the firm posted $2.59 earnings per share. As a group, equities research analysts predict that Discover Financial Services will post 13.43 EPS for the current year.

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.