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

Stock analysts at StockNews.com started coverage on shares of Discover Financial Services (NYSE:DFS) in a research note issued on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.

Several other research analysts also recently commented on DFS. BTIG Research initiated coverage on shares of Discover Financial Services in a report on Friday, June 7th. They issued a “neutral” rating for the company. Wells Fargo & Company raised their price target 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. Seaport Res Ptn downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Jefferies Financial Group raised their price target on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, HSBC raised their price target on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $126.29.

Discover Financial Services Trading Up 5.7 %

Shares of DFS stock opened at $130.81 on Friday. The company has a 50 day moving average of $124.81 and a 200-day moving average of $118.66. The firm has a market cap of $32.80 billion, a P/E ratio of 14.92, a PEG ratio of 0.76 and a beta of 1.41. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $131.65. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing the consensus estimate of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same period last year, the business posted $3.58 earnings per share. Sell-side analysts anticipate that Discover Financial Services will post 11.46 earnings per share for the current year.

Hedge Funds Weigh In On Discover Financial Services

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Discover Financial Services in the fourth quarter valued at about $322,199,000. Truist Financial Corp increased its position in shares of Discover Financial Services by 239.6% in the fourth quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after acquiring an additional 1,430,637 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Discover Financial Services in the fourth quarter valued at about $121,113,000. AQR Capital Management LLC increased its position in shares of Discover Financial Services by 336.5% in the third quarter. AQR Capital Management LLC now owns 1,133,784 shares of the financial services provider’s stock valued at $98,220,000 after acquiring an additional 874,020 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Discover Financial Services by 60.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after acquiring an additional 803,738 shares during the period. Hedge funds and other institutional investors 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.