Brokerages Set Discover Financial Services (NYSE:DFS) Target Price at $132.94

Shares of Discover Financial Services (NYSE:DFS) have received a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the company, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $132.94.

Several equities research analysts recently issued reports on DFS shares. Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Royal Bank of Canada boosted their price objective on shares of Discover Financial Services from $140.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Keefe, Bruyette & Woods raised their price target 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. Finally, Barclays raised their price target on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a report on Friday, July 19th.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $139.25 on Tuesday. The firm’s 50-day moving average is $134.48 and its two-hundred day moving average is $129.16. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The stock has a market capitalization of $34.92 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.94 and a beta of 1.42. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the firm posted $3.54 earnings per share. Discover Financial Services’s revenue was up 17.0% on a year-over-year basis. Equities analysts predict that Discover Financial Services will post 12.88 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s payout ratio is 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of DFS. Opal Wealth Advisors LLC acquired a new position in shares of Discover Financial Services during the second quarter worth approximately $26,000. Y.D. More Investments Ltd grew its holdings in shares of Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Discover Financial Services by 72.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 95 shares in the last quarter. Larson Financial Group LLC boosted its position in Discover Financial Services by 348.2% in the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after buying an additional 195 shares in the last quarter. Finally, Riverview Trust Co bought a new stake in Discover Financial Services during the 1st quarter worth approximately $34,000. Institutional investors and hedge funds 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.