Discover Financial Services (NYSE:DFS) Given New $209.00 Price Target at Barclays

Discover Financial Services (NYSE:DFS) had its price objective boosted by Barclays from $186.00 to $209.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial started coverage on Discover Financial Services in a research note on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price objective on the stock. Evercore ISI lifted their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a research note on Monday, January 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $180.57.

Discover Financial Services Stock Up 0.3 %

DFS stock opened at $201.59 on Friday. The company has a market cap of $50.66 billion, a price-to-earnings ratio of 12.63, a P/E/G ratio of 1.15 and a beta of 1.46. Discover Financial Services has a twelve month low of $101.71 and a twelve month high of $204.93. The business has a 50 day moving average price of $178.82 and a two-hundred day moving average price of $154.68. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. Analysts anticipate that Discover Financial Services will post 12.82 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.39%. Discover Financial Services’s payout ratio is 17.54%.

Hedge Funds Weigh In On Discover Financial Services

A number of hedge funds have recently added to or reduced their stakes in DFS. Sei Investments Co. raised its position in shares of Discover Financial Services by 58.8% in the 2nd quarter. Sei Investments Co. now owns 92,474 shares of the financial services provider’s stock valued at $12,096,000 after buying an additional 34,226 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Discover Financial Services by 61.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 48,070 shares of the financial services provider’s stock valued at $6,288,000 after acquiring an additional 18,215 shares during the last quarter. AXA S.A. raised its position in Discover Financial Services by 141.5% during the second quarter. AXA S.A. now owns 6,064 shares of the financial services provider’s stock valued at $793,000 after purchasing an additional 3,553 shares in the last quarter. AQR Capital Management LLC lifted its stake in Discover Financial Services by 0.7% during the second quarter. AQR Capital Management LLC now owns 171,921 shares of the financial services provider’s stock worth $21,867,000 after purchasing an additional 1,165 shares during the last quarter. Finally, MBB Public Markets I LLC boosted its holdings in shares of Discover Financial Services by 588.8% in the 2nd quarter. MBB Public Markets I LLC now owns 17,818 shares of the financial services provider’s stock valued at $2,331,000 after purchasing an additional 15,231 shares in the last quarter. Institutional investors own 86.94% of the company’s stock.

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; 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.