Discover Financial Services (NYSE:DFS) Shares Up 4.6%

Discover Financial Services (NYSE:DFS) traded up 4.6% during mid-day trading on Friday . The company traded as high as $131.09 and last traded at $129.43. 1,019,969 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 1,870,084 shares. The stock had previously closed at $123.73.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Barclays boosted their target price on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. boosted their target price on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. HSBC boosted their price target on Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Finally, BTIG Research began coverage on Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Discover Financial Services currently has an average rating of “Hold” and an average price target of $126.29.

Discover Financial Services Stock Performance

The firm has a fifty day simple moving average of $124.71 and a 200 day simple moving average of $118.43. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. The stock has a market cap of $32.80 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.76 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter in the prior year, the company posted $3.58 earnings per share. As a group, sell-side analysts expect that Discover Financial Services will post 11.46 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.14%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Several large investors have recently modified their holdings of DFS. Partnership Wealth Management LLC bought a new stake in Discover Financial Services during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Discover Financial Services during the 4th quarter worth approximately $28,000. Riverview Trust Co bought a new stake in Discover Financial Services during the 1st quarter worth approximately $34,000. New Covenant Trust Company N.A. bought a new stake in Discover Financial Services during the 1st quarter worth approximately $34,000. Finally, MeadowBrook Investment Advisors LLC bought a new stake in Discover Financial Services during the 4th quarter worth approximately $31,000. 86.94% of the stock is currently owned by institutional investors.

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.