Discover Financial Services (NYSE:DFS) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Discover Financial Services (NYSE:DFS) in a research report sent to investors on Friday morning. The firm issued a hold rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on DFS. JPMorgan Chase & Co. upped their price target on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, April 3rd. BTIG Research initiated coverage on Discover Financial Services in a research report on Friday, June 7th. They issued a neutral rating on the stock. Jefferies Financial Group boosted their price target on Discover Financial Services from $137.00 to $145.00 and gave the stock a buy rating in a research report on Friday, April 19th. Piper Sandler raised their price objective on Discover Financial Services from $127.00 to $145.00 and gave the company an overweight rating in a report on Friday, February 23rd. Finally, Barclays upped their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an equal weight rating in a report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $126.29.

Discover Financial Services Stock Performance

DFS opened at $126.98 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a fifty day moving average price of $124.34 and a 200 day moving average price of $117.79. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $131.65. The stock has a market cap of $31.82 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.77 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the prior year, the firm earned $3.58 earnings per share. Equities research analysts anticipate that Discover Financial Services will post 11.46 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Discover Financial Services in the 4th quarter valued at $322,199,000. Truist Financial Corp boosted its stake in Discover Financial Services by 239.6% during the fourth quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock worth $227,912,000 after buying an additional 1,430,637 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at approximately $121,113,000. Palestra Capital Management LLC acquired a new position in shares of Discover Financial Services in the 3rd quarter worth approximately $81,865,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Discover Financial Services by 336.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,133,784 shares of the financial services provider’s stock worth $98,220,000 after acquiring an additional 874,020 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

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; 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.