Discover Financial Services (NYSE:DFS) Now Covered by Barclays

Research analysts at Barclays assumed coverage on shares of Discover Financial Services (NYSE:DFS) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “equal weight” rating and a $99.00 price target on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 15.56% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. decreased their target price on Discover Financial Services from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday, October 17th. HSBC initiated coverage on shares of Discover Financial Services in a research note on Friday, October 13th. They issued a “buy” rating and a $104.00 price target for the company. Stephens reduced their target price on Discover Financial Services from $116.00 to $98.00 and set an “equal weight” rating for the company in a research note on Friday, October 20th. Piper Sandler reduced their price objective on Discover Financial Services from $100.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Finally, Wolfe Research raised Discover Financial Services from a “peer perform” rating to an “outperform” rating and set a $104.00 target price on the stock in a research report on Thursday, August 24th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.59.

Discover Financial Services Stock Performance

NYSE:DFS opened at $85.67 on Wednesday. The company has a market capitalization of $21.42 billion, a PE ratio of 6.36, a P/E/G ratio of 1.61 and a beta of 1.44. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $122.50. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50 day simple moving average of $86.84 and a two-hundred day simple moving average of $98.63.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, October 19th. The financial services provider reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.59). The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.95 billion. Discover Financial Services had a return on equity of 27.23% and a net margin of 18.39%. Discover Financial Services’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.54 EPS. Research analysts anticipate that Discover Financial Services will post 12.55 earnings per share for the current year.

Institutional Trading of Discover Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. Householder Group Estate & Retirement Specialist LLC bought a new position in Discover Financial Services in the 3rd quarter valued at $30,000. Resurgent Financial Advisors LLC purchased a new position in shares of Discover Financial Services in the 4th quarter worth about $31,000. Pinnacle Bancorp Inc. grew its position in Discover Financial Services by 282.0% during the third quarter. Pinnacle Bancorp Inc. now owns 382 shares of the financial services provider’s stock valued at $33,000 after buying an additional 282 shares during the period. Horizon Bancorp Inc. IN increased its holdings in Discover Financial Services by 76.1% during the first quarter. Horizon Bancorp Inc. IN now owns 347 shares of the financial services provider’s stock worth $34,000 after buying an additional 150 shares during the last quarter. Finally, Compass Wealth Management LLC purchased a new stake in Discover Financial Services during the fourth quarter worth about $34,000. 83.63% of the stock is owned by hedge funds and other institutional investors.

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.