Zurcher Kantonalbank Zurich Cantonalbank Sells 1,213 Shares of Discover Financial Services (NYSE:DFS)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Discover Financial Services (NYSE:DFS) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 242,060 shares of the financial services provider’s stock after selling 1,213 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.10% of Discover Financial Services worth $27,208,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DFS. Norges Bank bought a new stake in Discover Financial Services during the fourth quarter valued at approximately $340,672,000. Boston Partners boosted its position in shares of Discover Financial Services by 56.5% in the third quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock worth $743,663,000 after purchasing an additional 3,102,119 shares during the period. First Trust Advisors LP boosted its position in shares of Discover Financial Services by 489.5% in the first quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock worth $220,307,000 after purchasing an additional 1,660,180 shares during the period. Morgan Stanley boosted its position in shares of Discover Financial Services by 35.6% in the fourth quarter. Morgan Stanley now owns 4,927,342 shares of the financial services provider’s stock worth $482,042,000 after purchasing an additional 1,293,260 shares during the period. Finally, Palestra Capital Management LLC bought a new position in shares of Discover Financial Services in the third quarter worth approximately $81,865,000. 86.94% of the stock is currently owned by institutional investors.

Discover Financial Services Trading Up 0.3 %

NYSE DFS opened at $119.93 on Thursday. The company’s 50-day moving average price is $121.38 and its 200-day moving average price is $105.53. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49. The stock has a market cap of $30.05 billion, a PE ratio of 10.66, a PEG ratio of 0.85 and a beta of 1.45. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $131.65.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $3.03 by ($1.93). Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. During the same quarter in the prior year, the firm earned $3.58 earnings per share. Equities research analysts forecast that Discover Financial Services will post 11.2 earnings per share for the current year.

Insiders Place Their Bets

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the transaction, the chief financial officer now directly owns 18,592 shares in the company, valued at approximately $1,980,233.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $140.00 price target (up from $117.00) on shares of Discover Financial Services in a research report on Wednesday, February 21st. Wolfe Research reiterated a “peer perform” rating on shares of Discover Financial Services in a research report on Wednesday, February 21st. BMO Capital Markets lowered their target price on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. HSBC boosted their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Finally, Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average price target of $125.22.

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; private student loans, 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.