Deutsche Bank AG Sells 245,698 Shares of Discover Financial Services (NYSE:DFS)

Deutsche Bank AG lowered its stake in Discover Financial Services (NYSE:DFS) by 21.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 922,975 shares of the financial services provider’s stock after selling 245,698 shares during the quarter. Deutsche Bank AG’s holdings in Discover Financial Services were worth $159,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DFS. Norges Bank purchased a new position in Discover Financial Services during the fourth quarter valued at approximately $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $351,766,000. Invesco Ltd. lifted its stake in shares of Discover Financial Services by 38.5% during the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock valued at $515,268,000 after buying an additional 826,287 shares in the last quarter. Third Point LLC bought a new position in Discover Financial Services in the 4th quarter worth $110,867,000. Finally, Pentwater Capital Management LP purchased a new stake in Discover Financial Services in the 4th quarter worth $92,678,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Stock Down 1.0 %

Shares of NYSE DFS opened at $190.10 on Friday. The stock has a market capitalization of $47.84 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.51 and a beta of 1.16. Discover Financial Services has a 12-month low of $119.95 and a 12-month high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average price is $168.89 and its 200-day moving average price is $176.46.

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

Wall Street Analysts Forecast Growth

DFS has been the subject of a number of recent analyst reports. Barclays upped their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. TD Securities dropped their price target on 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. Truist Financial lifted 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 report on Friday, April 25th. Royal Bank of Canada upped their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $180.00 price target on shares of Discover Financial Services in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Discover Financial Services currently has an average rating of “Moderate Buy” and an average price target of $191.64.

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.