Wells Fargo & Company Increases Discover Financial Services (NYSE:DFS) Price Target to $135.00

Discover Financial Services (NYSE:DFS) had its target price upped by Wells Fargo & Company from $105.00 to $135.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.81% from the stock’s previous close.

DFS has been the topic of several other research reports. Barclays upped their target price on Discover Financial Services from $112.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday. BMO Capital Markets lowered their price objective on shares of Discover Financial Services from $116.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Royal Bank of Canada reissued a “sector perform” rating and set a $140.00 target price (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped 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 report on Friday, January 19th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Discover Financial Services currently has a consensus rating of “Hold” and a consensus price target of $125.22.

Discover Financial Services Stock Down 0.3 %

Shares of NYSE DFS opened at $122.94 on Wednesday. The company’s 50 day moving average price is $120.26 and its 200-day moving average price is $104.45. 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 company has a market capitalization of $30.81 billion, a P/E ratio of 10.93, a price-to-earnings-growth 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 forecast that Discover Financial Services will post 11.42 earnings per share for the current year.

Insider Activity at Discover Financial Services

In other Discover Financial Services news, CFO John Greene sold 35,191 shares of Discover Financial Services stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total transaction 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 approximately $1,980,233.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Discover Financial Services

Several hedge funds have recently modified their holdings of DFS. Ballentine Partners LLC increased its position in shares of Discover Financial Services by 3.1% during the first quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 86 shares during the last quarter. Penserra Capital Management LLC increased its position 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 valued at $141,000 after purchasing an additional 97 shares during the last quarter. Toroso Investments LLC increased its position in shares of Discover Financial Services by 3.1% during the 1st quarter. Toroso Investments LLC now owns 3,299 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 98 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of Discover Financial Services by 3.3% during the 4th quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 99 shares during the period. Finally, Midwest Professional Planners LTD. boosted its holdings in shares of Discover Financial Services by 3.4% in the 4th 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 last quarter. Institutional investors own 86.94% of the company’s stock.

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; 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.