Discover Financial Services (NYSE:DFS) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Discover Financial Services (NYSE:DFS) in a research note issued to investors on Friday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Several other research firms also recently issued reports on DFS. Citigroup lifted their price target on Discover Financial Services from $127.00 to $168.00 and gave the stock a buy rating in a research note on Friday, February 23rd. BMO Capital Markets lowered their price target on shares of Discover Financial Services from $116.00 to $104.00 and set a market perform rating on the stock in a research report on Monday, January 22nd. Evercore ISI raised their price objective on shares of Discover Financial Services from $117.00 to $140.00 and gave the stock an in-line rating in a research note on Thursday, February 22nd. Barclays upped 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. Finally, The Goldman Sachs Group dropped their price target on Discover Financial Services from $139.00 to $121.00 and set a buy rating for the company in a research report on Friday, January 19th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $126.29.

Discover Financial Services Trading Up 1.6 %

NYSE:DFS opened at $127.70 on Friday. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The company has a current ratio of 1.05, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49. The stock’s 50 day simple moving average is $123.80 and its 200-day simple moving average is $107.50. The firm has a market cap of $32.00 billion, a P/E ratio of 14.56, a PEG ratio of 0.77 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion during 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 16.74%. During the same period last year, the business posted $3.58 earnings per share. Equities analysts anticipate that Discover Financial Services will post 11.39 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC raised its position in shares of Discover Financial Services by 10.6% in the 3rd quarter. AE Wealth Management LLC now owns 12,163 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 1,165 shares during the period. Czech National Bank lifted its stake in shares of Discover Financial Services by 45.3% in the 3rd quarter. Czech National Bank now owns 43,686 shares of the financial services provider’s stock valued at $3,785,000 after purchasing an additional 13,623 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Discover Financial Services by 3.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 97,166 shares of the financial services provider’s stock worth $8,417,000 after purchasing an additional 3,249 shares during the period. MCF Advisors LLC increased its position in Discover Financial Services by 27.6% during the 3rd quarter. MCF Advisors LLC now owns 3,757 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 812 shares in the last quarter. Finally, Atlantic Union Bankshares Corp raised its holdings in Discover Financial Services by 15.2% in the third quarter. Atlantic Union Bankshares Corp now owns 13,242 shares of the financial services provider’s stock valued at $1,147,000 after buying an additional 1,750 shares during the period. 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.