Wells Fargo & Company Boosts Discover Financial Services (NYSE:DFS) Price Target to $160.00

Discover Financial Services (NYSE:DFS) had its target price raised by Wells Fargo & Company from $152.00 to $160.00 in a report released on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

DFS has been the subject of a number of other reports. Royal Bank of Canada raised their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday. Barclays boosted their price target on Discover Financial Services from $135.00 to $137.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Jefferies Financial Group upped their price objective on Discover Financial Services from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Evercore ISI lifted their price objective on Discover Financial Services from $140.00 to $156.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $136.12.

Discover Financial Services Stock Down 1.4 %

Discover Financial Services stock opened at $146.55 on Friday. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $152.90. The firm has a market capitalization of $36.75 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The stock’s fifty day moving average is $137.53 and its two-hundred day moving average is $131.23. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the company earned $2.59 EPS. Analysts predict that Discover Financial Services will post 13.15 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.80 annualized dividend and a dividend yield of 1.91%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

A number of institutional investors have recently added to or reduced their stakes in the company. Elser Financial Planning Inc acquired a new position in shares of Discover Financial Services in the 2nd quarter valued at about $91,044,000. Magnetar Financial LLC acquired a new stake in Discover Financial Services during the 1st quarter worth approximately $71,693,000. Samlyn Capital LLC raised its holdings in Discover Financial Services by 368.0% in the second quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after buying an additional 508,504 shares during the period. M&G Plc acquired a new position in Discover Financial Services during the first quarter valued at approximately $62,829,000. Finally, National Bank of Canada FI grew its stake in Discover Financial Services by 430.5% during the first quarter. National Bank of Canada FI now owns 443,707 shares of the financial services provider’s stock worth $54,752,000 after buying an additional 360,074 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; 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.