Discover Financial Services (NYSE:DFS) Given New $137.00 Price Target at Barclays

Discover Financial Services (NYSE:DFS) had its price objective hoisted by Barclays from $135.00 to $137.00 in a report published on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

DFS has been the topic of several other reports. BTIG Research started coverage on shares of Discover Financial Services in a report on Friday, June 7th. They set a neutral rating on the stock. Wells Fargo & Company boosted their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an equal weight rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an outperform rating in a research note on Monday, July 8th. Royal Bank of Canada boosted their target price on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a sector perform rating in a research note on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a buy rating in a research note on Tuesday, July 9th. Thirteen equities research 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 company currently has a consensus rating of Hold and a consensus price target of $131.33.

Discover Financial Services Stock Down 0.8 %

Discover Financial Services stock opened at $141.77 on Friday. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $147.61. The stock has a market cap of $35.55 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The firm’s 50-day simple moving average is $127.40 and its 200 day simple moving average is $121.40. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.07.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the company earned $3.54 earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Research analysts predict that Discover Financial Services will post 11.77 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Institutional Trading of Discover Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Discover Financial Services during the 2nd quarter worth approximately $26,000. 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. Finally, New Covenant Trust Company N.A. bought a new stake in Discover Financial Services during the 1st quarter worth approximately $34,000. 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.