Truist Financial Boosts Discover Financial Services (NYSE:DFS) Price Target to $262.00

Discover Financial Services (NYSE:DFS) had its target price upped by Truist Financial from $233.00 to $262.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on DFS. JPMorgan Chase & Co. boosted their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank of Canada upped their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $182.64.

Discover Financial Services Trading Down 0.9 %

NYSE DFS opened at $200.25 on Monday. Discover Financial Services has a twelve month low of $104.08 and a twelve month high of $204.93. The business’s fifty day moving average is $178.82 and its 200 day moving average is $154.86. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. The company has a market cap of $50.32 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. As a group, sell-side analysts expect that Discover Financial Services will post 12.82 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Hedge Funds Weigh In On Discover Financial Services

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Discover Financial Services by 31.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,466 shares of the financial services provider’s stock worth $4,781,000 after buying an additional 6,599 shares during the last quarter. Y.D. More Investments Ltd raised its position in Discover Financial Services by 76.1% in the fourth quarter. Y.D. More Investments Ltd now owns 405 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 175 shares during the period. Stratos Wealth Partners LTD. boosted its stake in Discover Financial Services by 0.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 57 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Discover Financial Services by 3.3% during the 4th quarter. Yousif Capital Management LLC now owns 37,315 shares of the financial services provider’s stock valued at $6,464,000 after acquiring an additional 1,187 shares during the period. Finally, Silverlake Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $214,000. 86.94% of the stock is currently owned by institutional investors.

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.