Discover Financial Services (NYSE:DFS) Price Target Raised to $107.00 at Stephens

Discover Financial Services (NYSE:DFS) had its price target lifted by Stephens to $107.00 in a report published on Tuesday, Stock Target Advisor reports.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. lowered Discover Financial Services from an overweight rating to a neutral rating and cut their price target for the company from $140.00 to $113.00 in a research note on Tuesday, September 6th. Piper Sandler lifted their target price on Discover Financial Services to $132.00 in a research note on Friday, July 22nd. Barclays cut their target price on Discover Financial Services from $140.00 to $133.00 and set an overweight rating on the stock in a research note on Friday, July 22nd. Keefe, Bruyette & Woods cut their target price on Discover Financial Services from $150.00 to $135.00 in a research note on Monday, July 11th. Finally, Morgan Stanley cut their target price on Discover Financial Services from $111.00 to $104.00 and set an equal weight rating on the stock in a research note on Friday, July 22nd. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $123.88.

Discover Financial Services Stock Performance

DFS stock opened at $100.29 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.43. The business’s fifty day simple moving average is $102.77 and its two-hundred day simple moving average is $105.59. Discover Financial Services has a twelve month low of $88.02 and a twelve month high of $133.40. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 6.53, a PEG ratio of 0.22 and a beta of 1.43.

Discover Financial Services (NYSE:DFSGet Rating) last released its earnings results on Wednesday, July 20th. The financial services provider reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.19. Discover Financial Services had a return on equity of 36.35% and a net margin of 34.89%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm posted $5.55 earnings per share. The business’s revenue was down 9.9% compared to the same quarter last year. Analysts predict that Discover Financial Services will post 15.36 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 8th. Investors of record on Thursday, August 25th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Wednesday, August 24th. Discover Financial Services’s dividend payout ratio (DPR) is 15.63%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $354,824,000. First Trust Advisors LP increased its position in shares of Discover Financial Services by 489.5% in the first quarter. First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock valued at $220,307,000 after buying an additional 1,660,180 shares in the last quarter. Invesco Ltd. increased its position in shares of Discover Financial Services by 43.8% in the fourth quarter. Invesco Ltd. now owns 2,099,589 shares of the financial services provider’s stock valued at $242,629,000 after buying an additional 639,624 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Discover Financial Services by 51.2% in the second quarter. Goldman Sachs Group Inc. now owns 1,636,711 shares of the financial services provider’s stock valued at $154,801,000 after buying an additional 554,438 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Discover Financial Services by 2.3% in the fourth quarter. BlackRock Inc. now owns 20,610,036 shares of the financial services provider’s stock valued at $2,381,696,000 after buying an additional 457,067 shares in the last quarter. 83.92% of the stock is owned by institutional investors and hedge funds.

Discover Financial Services Company Profile

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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.

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Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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