Discover Financial Services (NYSE:DFS) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Discover Financial Services (NYSE:DFS) in a research note issued to investors on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

Several other research firms have also recently commented on DFS. Citigroup raised their target price on Discover Financial Services from $127.00 to $168.00 and gave the stock a buy rating in a research note on Friday, February 23rd. Royal Bank of Canada reiterated a sector perform rating and issued a $140.00 price objective (up previously from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. BMO Capital Markets cut their target price on shares of Discover Financial Services from $116.00 to $104.00 and set a market perform rating on the stock in a research note on Monday, January 22nd. Seaport Res Ptn downgraded shares of Discover Financial Services from a buy rating to a neutral rating in a research note on Friday, March 15th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Discover Financial Services from $140.00 to $111.00 and set a hold rating on the stock in a research report on Friday, January 19th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $125.22.

Discover Financial Services Stock Down 1.8 %

Discover Financial Services stock opened at $123.10 on Wednesday. The firm has a 50 day moving average price of $119.93 and a two-hundred day moving average price of $104.32. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.13 and a current ratio of 1.13. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65. The firm has a market cap of $30.85 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 0.90 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, January 18th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.96). Discover Financial Services had a net margin of 14.30% and a return on equity of 22.24%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the firm earned $3.77 EPS. Discover Financial Services’s quarterly revenue was up 12.8% on a year-over-year basis. Equities analysts predict that Discover Financial Services will post 11.42 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 22nd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Wednesday, February 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.89%.

Insider Buying and Selling at Discover Financial Services

In other news, CFO John Greene sold 35,191 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was 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 owns 18,592 shares in the company, valued at approximately $1,980,233.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Discover Financial Services

Several institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC raised its position in Discover Financial Services by 0.7% in the first quarter. Park Avenue Securities LLC now owns 40,070 shares of the financial services provider’s stock worth $5,253,000 after acquiring an additional 280 shares during the period. McLean Asset Management Corp bought a new stake in shares of Discover Financial Services in the 1st quarter worth approximately $223,000. American National Bank lifted its stake in Discover Financial Services by 48.3% in the first quarter. American National Bank now owns 1,038 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 338 shares during the last quarter. Wedmont Private Capital bought a new position in Discover Financial Services during the first quarter valued at $265,000. Finally, Czech National Bank increased its position in Discover Financial Services by 0.5% in the first quarter. Czech National Bank now owns 43,998 shares of the financial services provider’s stock worth $5,768,000 after buying an additional 202 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.

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.