JPMorgan Chase & Co. Boosts Discover Financial Services (NYSE:DFS) Price Target to $120.00

Discover Financial Services (NYSE:DFS) had its target price raised by stock analysts at JPMorgan Chase & Co. from $110.00 to $120.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 3.95% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $140.00 price objective (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. Wolfe Research reaffirmed a “peer perform” rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. StockNews.com initiated coverage on Discover Financial Services in a research note on Tuesday. They issued a “hold” rating for the company. Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $98.00 price objective on shares of Discover Financial Services in a research note on Thursday, December 14th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services currently has an average rating of “Hold” and a consensus price target of $124.18.

Discover Financial Services Stock Down 1.5 %

Shares of NYSE DFS opened at $124.94 on Wednesday. The stock has a market cap of $31.31 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.49. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65. The business has a 50-day moving average price of $118.05 and a 200 day moving average price of $103.04.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.96). Discover Financial Services had a return on equity of 22.24% and a net margin of 14.30%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the business posted $3.77 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Discover Financial Services will post 11.44 earnings per share for the current year.

Insider Activity

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Discover Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its holdings in shares of Discover Financial Services by 7.2% during the 4th quarter. Penserra Capital Management LLC now owns 1,451 shares of the financial services provider’s stock worth $141,000 after buying an additional 97 shares during the period. Toroso Investments LLC increased its position in Discover Financial Services by 3.1% in the 1st quarter. Toroso Investments LLC now owns 3,299 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 98 shares during the period. Wealthspire Advisors LLC increased its position in Discover Financial Services by 3.3% in the 4th quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 99 shares during the period. Midwest Professional Planners LTD. increased its position in shares of Discover Financial Services by 3.4% during the fourth quarter. Midwest Professional Planners LTD. now owns 3,086 shares of the financial services provider’s stock worth $347,000 after buying an additional 102 shares during the period. Finally, TIAA FSB increased its position in shares of Discover Financial Services by 1.2% during the fourth quarter. TIAA FSB now owns 8,532 shares of the financial services provider’s stock worth $835,000 after buying an additional 102 shares during the period. 86.94% of the stock is currently owned by institutional investors and hedge funds.

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.