Barclays Boosts Discover Financial Services (NYSE:DFS) Price Target to $135.00

Discover Financial Services (NYSE:DFS) had its price target increased by Barclays from $123.00 to $135.00 in a research note released on Tuesday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on DFS. Keefe, Bruyette & Woods boosted their target price on Discover Financial Services from $145.00 to $160.00 and gave the stock an outperform rating in a research report on Monday. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on shares of Discover Financial Services from $120.00 to $132.00 and gave the stock a neutral rating in a research report on Monday. HSBC increased their price target on Discover Financial Services from $107.00 to $144.00 and gave the company a hold rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group lifted their price objective on Discover Financial Services from $137.00 to $145.00 and gave the stock a buy rating in a report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $129.78.

Discover Financial Services Stock Up 1.8 %

Shares of Discover Financial Services stock opened at $131.48 on Tuesday. The company has a 50-day simple moving average of $125.57 and a two-hundred day simple moving average of $120.13. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $133.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $32.97 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the prior year, the business posted $3.58 earnings per share. On average, analysts anticipate that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Institutional Trading of Discover Financial Services

Institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Discover Financial Services in the 4th quarter worth approximately $322,199,000. Truist Financial Corp grew its stake in Discover Financial Services by 239.6% during the fourth quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after acquiring an additional 1,430,637 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Discover Financial Services in the 4th quarter valued at $121,113,000. Envestnet Asset Management Inc. lifted its stake in Discover Financial Services by 60.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after purchasing an additional 803,738 shares in the last quarter. Finally, Canoe Financial LP bought a new position in shares of Discover Financial Services during the 4th quarter valued at about $72,265,000. Hedge funds and other 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.