Handelsbanken Fonder AB Has $19.60 Million Stock Holdings in Discover Financial Services (NYSE:DFS)

Handelsbanken Fonder AB cut its stake in Discover Financial Services (NYSE:DFS) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,841 shares of the financial services provider’s stock after selling 5,238 shares during the quarter. Handelsbanken Fonder AB’s holdings in Discover Financial Services were worth $19,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in Discover Financial Services by 2.9% in the fourth quarter. Brighton Jones LLC now owns 4,378 shares of the financial services provider’s stock worth $758,000 after purchasing an additional 125 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Discover Financial Services by 18.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,969 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 305 shares in the last quarter. Empowered Funds LLC boosted its holdings in Discover Financial Services by 12.3% in the fourth quarter. Empowered Funds LLC now owns 5,928 shares of the financial services provider’s stock worth $1,027,000 after purchasing an additional 648 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Discover Financial Services by 32.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 10,174 shares of the financial services provider’s stock worth $1,762,000 after purchasing an additional 2,484 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in Discover Financial Services by 28.4% in the fourth quarter. Quent Capital LLC now owns 1,472 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 326 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DFS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Discover Financial Services from $169.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Argus upgraded shares of Discover Financial Services to a “strong-buy” rating in a report on Friday, April 25th. TD Securities decreased their price target on shares of Discover Financial Services from $188.00 to $184.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Truist Financial upped their price target on shares of Discover Financial Services from $219.00 to $229.00 and gave the company a “buy” rating in a report on Friday, April 25th. Finally, Jefferies Financial Group restated a “hold” rating and set a $180.00 price target on shares of Discover Financial Services in a report on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services currently has an average 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. The firm has a market cap of $49.77 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.51 and a beta of 1.16. The company has a 50 day moving average of $184.68 and a 200-day moving average of $181.86. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 1-year low of $120.97 and a 1-year high of $207.42.

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

About Discover Financial Services

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.