Smith Salley Wealth Management Acquires Shares of 1,267 Discover Financial Services (NYSE:DFS)

Smith Salley Wealth Management bought a new position in shares of Discover Financial Services (NYSE:DFS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,267 shares of the financial services provider’s stock, valued at approximately $220,000.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its position in Discover Financial Services by 0.8% during the 3rd quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after purchasing an additional 80,601 shares during the last quarter. FMR LLC grew its holdings in shares of Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock worth $1,051,314,000 after buying an additional 558,227 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Discover Financial Services by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock valued at $257,391,000 after acquiring an additional 12,255 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Discover Financial Services by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock valued at $242,460,000 after acquiring an additional 7,751 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Discover Financial Services by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,063,980 shares of the financial services provider’s stock worth $149,266,000 after acquiring an additional 4,594 shares during the period. 86.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DFS has been the subject of several recent research reports. UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Evercore ISI lifted their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada raised their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.71.

Discover Financial Services Stock Performance

Shares of DFS opened at $187.17 on Monday. The company has a 50-day moving average of $176.94 and a two-hundred day moving average of $152.41. The stock has a market cap of $47.04 billion, a P/E ratio of 15.11, a PEG ratio of 0.99 and a beta of 1.46. Discover Financial Services has a 12-month low of $96.46 and a 12-month high of $189.27. The company has a current ratio of 1.10, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

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.