Meyer Handelman Co. Invests $239,000 in Discover Financial Services (NYSE:DFS)

Meyer Handelman Co. bought a new stake in Discover Financial Services (NYSE:DFS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,380 shares of the financial services provider's stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also modified their holdings of DFS. Park Avenue Securities LLC increased its stake in Discover Financial Services by 24.2% during the 4th quarter. Park Avenue Securities LLC now owns 56,166 shares of the financial services provider's stock worth $9,730,000 after acquiring an additional 10,941 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Discover Financial Services in the fourth quarter worth $233,000. Fifth Third Wealth Advisors LLC increased its position in shares of Discover Financial Services by 6.9% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,093 shares of the financial services provider's stock worth $536,000 after purchasing an additional 200 shares during the period. Quantum Financial Advisors LLC bought a new stake in Discover Financial Services during the fourth quarter worth about $218,000. Finally, Cypress Financial Planning LLC grew its stake in Discover Financial Services by 50.9% during the fourth quarter. Cypress Financial Planning LLC now owns 22,247 shares of the financial services provider's stock worth $3,854,000 after buying an additional 7,503 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on DFS. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. lowered their price objective on shares of Discover Financial Services from $150.00 to $146.00 and set a "neutral" rating for the company in a research report on Tuesday. StockNews.com lowered Discover Financial Services from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Truist Financial started coverage on Discover Financial Services in a report on Tuesday, January 7th. They set a "buy" rating and a $233.00 price target for the company. Finally, UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and raised their price objective for the company from $150.00 to $239.00 in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $164.75.

Discover Financial Services Trading Down 1.3 %

Shares of NYSE:DFS traded down $2.50 during mid-day trading on Thursday, reaching $185.04. 1,591,784 shares of the company's stock were exchanged, compared to its average volume of 1,287,948. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $188.99. The firm has a market capitalization of $46.50 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 0.99 and a beta of 1.46. The business's fifty day moving average price is $176.50 and its 200-day moving average price is $151.67.

Discover Financial Services (NYSE:DFS - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.41. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a return on equity of 22.08% and a net margin of 13.78%. During the same quarter in the previous year, the company posted $2.59 EPS. On average, research analysts predict that Discover Financial Services will post 14.17 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.