Discover Financial Services (NYSE:DFS) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a $239.00 price objective on the financial services provider’s stock, up from their previous price objective of $150.00. UBS Group’s price target would indicate a potential upside of 31.97% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company upped their price target on Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, January 3rd. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Discover Financial Services from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Truist Financial assumed coverage on Discover Financial Services in a research note on Tuesday, January 7th. They set a “buy” rating and a $233.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $164.75.
Check Out Our Latest Stock Analysis on Discover Financial Services
Discover Financial Services Stock Up 3.1 %
Discover Financial Services (NYSE:DFS – Get Free Report) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter in the prior year, the business earned $2.59 earnings per share. Equities research analysts forecast that Discover Financial Services will post 13.43 earnings per share for the current fiscal year.
Institutional Trading of Discover Financial Services
A number of institutional investors and hedge funds have recently modified their holdings of DFS. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock valued at $26,000 after buying an additional 157 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Discover Financial Services during the third quarter worth about $30,000. Pinnacle Bancorp Inc. lifted its holdings in Discover Financial Services by 37.1% in the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 79 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 68 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Discover Financial Services during the fourth quarter valued at approximately $51,000. 86.94% of the stock is owned by institutional investors and hedge funds.
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; 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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