NewEdge Advisors LLC Purchases 2,726 Shares of Discover Financial Services (NYSE:DFS)

NewEdge Advisors LLC lifted its position in Discover Financial Services (NYSE:DFS - Free Report) by 27.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,546 shares of the financial services provider's stock after purchasing an additional 2,726 shares during the quarter. NewEdge Advisors LLC's holdings in Discover Financial Services were worth $2,173,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DFS. Raymond James Financial Inc. bought a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $38,489,000. Brookstone Capital Management bought a new position in shares of Discover Financial Services during the fourth quarter valued at $282,000. Meyer Handelman Co. acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at $239,000. Mechanics Bank Trust Department bought a new stake in shares of Discover Financial Services in the 4th quarter worth about $234,000. Finally, JBGlobal.com LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter worth about $346,000. Institutional investors and hedge funds own 86.94% of the company's stock.

Discover Financial Services Trading Down 1.3 %

NYSE DFS traded down $2.44 during trading hours on Friday, hitting $185.02. The company's stock had a trading volume of 1,546,838 shares, compared to its average volume of 1,608,710. The stock has a fifty day moving average of $169.86 and a 200 day moving average of $173.61. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a twelve month low of $119.95 and a twelve month high of $205.76. The firm has a market capitalization of $46.55 billion, a P/E ratio of 11.59, a PEG ratio of 1.51 and a beta of 1.20.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.92. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.25 billion. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Equities research analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DFS. UBS Group raised shares of Discover Financial Services from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Barclays raised their price target on Discover Financial Services from $186.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on Discover Financial Services from $169.00 to $129.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. TD Securities lowered their target price on Discover Financial Services from $188.00 to $184.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $188.91.

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.