The conical bearing can be used to support the radial and thrust load simultaneously. Two circumferential grooves with discrete hole restrictions are made on the bearing surface in order to increase stiffness. In this paper, the dynamic characteristics of this type of bearings are calculated such as stiffness and damping coefficients. As a results of theoretical analysis, it is verified that there exist the groove depth and distance between two grooves which produce the maximum stiffness at the given bearing dimensions.