As Discover Finl Svcs (DFS) Market Valuation Declined, Holder Salzhauer Michael Lowered Its Holding by $633,992; As First Republic Bank/Ca (FRC) Valuation Rose, Sumitomo Mitsui Trust Holdings Has Decreased Stake by $598,216

April 17, 2018 - By Kurt Siggers

Discover Financial Services (NYSE:DFS) Logo

Salzhauer Michael decreased its stake in Discover Finl Svcs (DFS) by 57.14% based on its latest 2017Q4 regulatory filing with the SEC. Salzhauer Michael sold 8,342 shares as the company’s stock declined 8.95% with the market. The institutional investor held 6,258 shares of the consumer services company at the end of 2017Q4, valued at $481,000, down from 14,600 at the end of the previous reported quarter. Salzhauer Michael who had been investing in Discover Finl Svcs for a number of months, seems to be less bullish one the $25.62 billion market cap company. The stock increased 1.26% or $0.9 during the last trading session, reaching $72.46. About 576,045 shares traded. Discover Financial Services (NYSE:DFS) has risen 5.15% since April 17, 2017 and is uptrending. It has underperformed by 6.40% the S&P500.

Sumitomo Mitsui Trust Holdings Inc decreased its stake in First Republic Bank/Ca (FRC) by 1.3% based on its latest 2017Q4 regulatory filing with the SEC. Sumitomo Mitsui Trust Holdings Inc sold 6,956 shares as the company’s stock rose 3.67% while stock markets declined. The institutional investor held 528,273 shares of the company at the end of 2017Q4, valued at $45.77M, down from 535,229 at the end of the previous reported quarter. Sumitomo Mitsui Trust Holdings Inc who had been investing in First Republic Bank/Ca for a number of months, seems to be less bullish one the $14.77B market cap company. The stock increased 0.07% or $0.06 during the last trading session, reaching $91.23. About 320,011 shares traded. First Republic Bank (NYSE:FRC) has risen 0.07% since April 17, 2017 and is uptrending. It has underperformed by 11.48% the S&P500.

Analysts await First Republic Bank (NYSE:FRC) to report earnings on July, 13. They expect $1.15 EPS, up 8.49% or $0.09 from last year’s $1.06 per share. FRC’s profit will be $186.15M for 19.83 P/E if the $1.15 EPS becomes a reality. After $1.13 actual EPS reported by First Republic Bank for the previous quarter, Wall Street now forecasts 1.77% EPS growth.

Among 19 analysts covering First Republic Bank (NYSE:FRC), 8 have Buy rating, 0 Sell and 11 Hold. Therefore 42% are positive. First Republic Bank had 86 analyst reports since October 6, 2015 according to SRatingsIntel. Maxim Group maintained the shares of FRC in report on Monday, July 17 with “Buy” rating. The firm has “Hold” rating given on Tuesday, December 12 by Keefe Bruyette & Woods. Barclays Capital maintained the shares of FRC in report on Monday, October 16 with “Equal-Weight” rating. BMO Capital Markets maintained First Republic Bank (NYSE:FRC) rating on Thursday, March 23. BMO Capital Markets has “Hold” rating and $98 target. The rating was maintained by Sandler O’Neill with “Hold” on Friday, April 13. Maxim Group maintained First Republic Bank (NYSE:FRC) on Friday, July 14 with “Buy” rating. BMO Capital Markets maintained First Republic Bank (NYSE:FRC) rating on Friday, July 7. BMO Capital Markets has “Hold” rating and $9700 target. The stock of First Republic Bank (NYSE:FRC) earned “Hold” rating by Barclays Capital on Tuesday, January 2. The company was maintained on Monday, July 10 by Piper Jaffray. The firm has “Hold” rating given on Tuesday, January 16 by Sandler O’Neill.

Sumitomo Mitsui Trust Holdings Inc, which manages about $77.47 billion US Long portfolio, upped its stake in Kinross Gold Corp (NYSE:KGC) by 399,387 shares to 4.53 million shares, valued at $19.61M in 2017Q4, according to the filing. It also increased its holding in Vail Resorts Inc (NYSE:MTN) by 28,315 shares in the quarter, for a total of 138,938 shares, and has risen its stake in Avery Dennison Corp (NYSE:AVY).

Salzhauer Michael, which manages about $254.56 million US Long portfolio, upped its stake in Bank Amer Corp (NYSE:BAC) by 1.37M shares to 1.52 million shares, valued at $44.98M in 2017Q4, according to the filing. It also increased its holding in Keycorp New (NYSE:KEY) by 127,692 shares in the quarter, for a total of 177,092 shares, and has risen its stake in Cowen Inc.

Investors sentiment increased to 0.87 in 2017 Q4. Its up 0.10, from 0.77 in 2017Q3. It improved, as 51 investors sold DFS shares while 266 reduced holdings. 99 funds opened positions while 176 raised stakes. 296.68 million shares or 1.53% less from 301.28 million shares in 2017Q3 were reported. Cutler Inv Counsel Ltd Liability Company owns 5,180 shares or 0.08% of their US portfolio. Moors & Cabot Inc invested in 0.04% or 3,887 shares. Silvercrest Asset Management Gp Ltd Liability owns 5,418 shares. Tiaa Cref Invest Ltd Liability owns 1.80M shares. South State Corporation reported 0.03% of its portfolio in Discover Financial Services (NYSE:DFS). Conning, Connecticut-based fund reported 9,746 shares. State Of Wisconsin Inv Board has 0.07% invested in Discover Financial Services (NYSE:DFS) for 328,636 shares. Credit Suisse Ag owns 609,171 shares or 0.04% of their US portfolio. First Fincl Corp In holds 0.02% or 440 shares. Lvm Capital Management Limited Mi holds 1.64% in Discover Financial Services (NYSE:DFS) or 94,437 shares. Cranbrook Wealth Ltd Co owns 9 shares or 0% of their US portfolio. Calamos Advisors Ltd Liability Corporation owns 688,942 shares. Icon Advisers has 18,200 shares for 0.1% of their portfolio. Wasatch Advsrs holds 0.01% of its portfolio in Discover Financial Services (NYSE:DFS) for 10,289 shares. Cumberland Limited holds 3.77% of its portfolio in Discover Financial Services (NYSE:DFS) for 372,060 shares.

Among 33 analysts covering Discover Financial Services (NYSE:DFS), 21 have Buy rating, 1 Sell and 11 Hold. Therefore 64% are positive. Discover Financial Services had 98 analyst reports since July 24, 2015 according to SRatingsIntel. The stock of Discover Financial Services (NYSE:DFS) has “Buy” rating given on Monday, December 11 by Wedbush. Credit Suisse maintained it with “Outperform” rating and $95 target in Thursday, January 25 report. Stephens maintained it with “Sell” rating and $73.0 target in Tuesday, January 2 report. RBC Capital Markets maintained it with “Buy” rating and $100.0 target in Wednesday, January 24 report. The stock of Discover Financial Services (NYSE:DFS) earned “Neutral” rating by Macquarie Research on Wednesday, May 11. The stock of Discover Financial Services (NYSE:DFS) earned “Neutral” rating by Goldman Sachs on Monday, April 16. The firm has “Hold” rating by Susquehanna given on Thursday, December 28. The stock of Discover Financial Services (NYSE:DFS) earned “Buy” rating by Wood on Monday, May 15. The firm has “Buy” rating given on Monday, December 18 by Bank of America. As per Friday, February 2, the company rating was maintained by Morgan Stanley.

Discover Financial Services (NYSE:DFS) Institutional Positions Chart

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By1 Kurt Siggers

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