Discover Financial Services (NYSE:DFS) Coverage Initiated at Wolfe Research

Analysts at Wolfe Research assumed coverage on shares of Discover Financial Services (NYSE:DFS) in a research report issued to clients and investors on Friday, The Fly reports. The firm set an “outperform” rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. JMP Securities boosted their price objective on shares of Discover Financial Services from $48.00 to $58.00 and gave the stock a “market outperform” rating in a report on Friday, July 24th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $72.00 in a report on Monday, June 22nd. Oppenheimer initiated coverage on shares of Discover Financial Services in a report on Thursday, April 23rd. They issued a “hold” rating for the company. Credit Suisse Group restated a “buy” rating on shares of Discover Financial Services in a report on Monday, May 18th. Finally, Piper Sandler boosted their price objective on shares of Discover Financial Services from $49.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $62.93.

Shares of Discover Financial Services stock opened at $49.43 on Friday. Discover Financial Services has a 1 year low of $23.25 and a 1 year high of $90.72. The firm has a market cap of $15.15 billion, a PE ratio of 15.64, a PEG ratio of 9.20 and a beta of 1.88. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.18 and a quick ratio of 1.26. The company has a 50 day simple moving average of $50.50 and a two-hundred day simple moving average of $53.23.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($1.25). Discover Financial Services had a net margin of 7.65% and a return on equity of 10.45%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.63 billion. As a group, research analysts anticipate that Discover Financial Services will post 0.77 earnings per share for the current year.

In related news, EVP Robert Andrew Eichfeld acquired 12,650 shares of Discover Financial Services stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $39.50 per share, with a total value of $499,675.00. Following the transaction, the executive vice president now owns 33,454 shares in the company, valued at $1,321,433. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in DFS. Verus Capital Partners LLC bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $88,000. Macquarie Group Ltd. boosted its stake in Discover Financial Services by 118.1% in the 4th quarter. Macquarie Group Ltd. now owns 326,413 shares of the financial services provider’s stock worth $27,687,000 after purchasing an additional 176,724 shares in the last quarter. TFG Advisers LLC bought a new position in Discover Financial Services in the 4th quarter worth about $40,000. Gradient Investments LLC boosted its stake in Discover Financial Services by 18.6% in the 1st quarter. Gradient Investments LLC now owns 142,685 shares of the financial services provider’s stock worth $5,090,000 after purchasing an additional 22,414 shares in the last quarter. Finally, IBM Retirement Fund boosted its stake in Discover Financial Services by 44.4% in the 1st quarter. IBM Retirement Fund now owns 8,845 shares of the financial services provider’s stock worth $316,000 after purchasing an additional 2,721 shares in the last quarter. Hedge funds and other institutional investors own 82.64% of the company’s stock.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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The Fly

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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