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

StockNews.com began coverage on shares of Discover Financial Services (NYSE:DFS) in a research note released on Saturday morning. The firm issued a hold rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft decreased their target price on Discover Financial Services from $140.00 to $111.00 and set a hold rating on the stock in a research report on Friday, January 19th. Piper Sandler increased their price objective on Discover Financial Services from $127.00 to $145.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. HSBC boosted their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a hold rating in a research report on Thursday, March 21st. Wolfe Research reiterated a peer perform rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company boosted 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 report on Wednesday, April 10th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $126.29.

Discover Financial Services Stock Performance

Shares of DFS opened at $123.61 on Friday. The company has a market cap of $30.98 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.72 and a beta of 1.43. The firm has a 50-day moving average of $124.50 and a 200-day moving average of $109.29. Discover Financial Services has a one year low of $79.04 and a one year high of $131.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period in the previous year, the firm posted $3.58 earnings per share. As a group, equities analysts forecast that Discover Financial Services will post 11.86 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a $0.70 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.27%. Discover Financial Services’s payout ratio is 31.93%.

Institutional Trading of Discover Financial Services

Several institutional investors have recently added to or reduced their stakes in DFS. Boston Partners lifted its position in shares of Discover Financial Services by 56.5% during the 3rd quarter. Boston Partners now owns 8,597,250 shares of the financial services provider’s stock valued at $743,663,000 after acquiring an additional 3,102,119 shares during the period. Norges Bank acquired a new stake in shares of Discover Financial Services in the 4th quarter valued at about $322,199,000. Truist Financial Corp increased its position in Discover Financial Services by 239.6% in the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after buying an additional 1,430,637 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Discover Financial Services during the 4th quarter worth approximately $121,113,000. Finally, Palestra Capital Management LLC bought a new position in Discover Financial Services in the third quarter worth approximately $81,865,000. 86.94% of the stock is currently owned by 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; 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.