Miracle Mile Advisors LLC Buys 662 Shares of Discover Financial Services (NYSE:DFS)

Miracle Mile Advisors LLC boosted its position in Discover Financial Services (NYSE:DFS) by 31.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,736 shares of the financial services provider’s stock after buying an additional 662 shares during the period. Miracle Mile Advisors LLC’s holdings in Discover Financial Services were worth $474,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DFS. DiNuzzo Private Wealth Inc. increased its holdings in shares of Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Discover Financial Services during the 3rd quarter valued at $30,000. Pinnacle Bancorp Inc. increased its stake in Discover Financial Services by 37.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Friedenthal Financial acquired a new position in Discover Financial Services during the fourth quarter worth $51,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares in the last quarter. 86.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DFS shares. Barclays upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $137.00 to $186.00 in a report on Monday, January 6th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Truist Financial assumed coverage on Discover Financial Services in a research report on Tuesday, January 7th. They set a “buy” rating and a $233.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $164.75.

Discover Financial Services Trading Up 3.7 %

Shares of DFS stock opened at $187.49 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The firm has a market cap of $47.12 billion, a P/E ratio of 15.13, a PEG ratio of 1.12 and a beta of 1.46. The company has a 50 day moving average of $176.40 and a 200-day moving average of $151.42. Discover Financial Services has a 12-month low of $96.46 and a 12-month high of $188.99.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the business posted $2.59 earnings per share. Sell-side analysts anticipate that Discover Financial Services will post 13.43 earnings per share 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.