Discover Financial Services (NYSE:DFS) Given New $209.00 Price Target at Barclays

Discover Financial Services (NYSE:DFS) had its price target lifted by Barclays from $186.00 to $209.00 in a report released on Friday,Benzinga reports. Barclays currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods increased their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. Truist Financial assumed coverage on shares of Discover Financial Services in a research note on Tuesday, January 7th. They set a “buy” rating and a $233.00 price target on the stock. Evercore ISI lifted their price objective on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and an average target price of $180.57.

Discover Financial Services Stock Performance

DFS stock opened at $201.59 on Friday. The firm has a 50-day simple moving average of $178.30 and a two-hundred day simple moving average of $154.01. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. Discover Financial Services has a one year low of $101.71 and a one year high of $204.93. The firm has a market cap of $50.66 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. On average, equities analysts forecast that Discover Financial Services will post 12.82 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 annualized dividend and a yield of 1.39%. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Hedge Funds Weigh In On Discover Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. grew its position in Discover Financial Services by 0.6% in the 4th quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after buying an additional 56 shares during the last quarter. Invst LLC boosted its holdings in shares of Discover Financial Services by 0.9% in the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 62 shares in the last quarter. CTC Alternative Strategies Ltd. increased its stake in shares of Discover Financial Services by 3.2% during the third quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 63 shares during the period. Eagle Bluffs Wealth Management LLC raised its holdings in Discover Financial Services by 0.5% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock worth $2,034,000 after purchasing an additional 67 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its position in Discover Financial Services by 3.5% in the fourth quarter. Perigon Wealth Management LLC now owns 1,967 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 67 shares during the period. 86.94% of the stock is owned by hedge funds and other 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; 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.