Discover Financial Services (NYSE:DFS) Sets New 52-Week High – Here’s Why

Discover Financial Services (NYSE:DFS)’s stock price reached a new 52-week high on Friday . The stock traded as high as $157.06 and last traded at $153.16, with a volume of 533673 shares changing hands. The stock had previously closed at $143.12.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore ISI increased their price target on shares of 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. Barclays increased their target price on Discover Financial Services from $135.00 to $137.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Jefferies Financial Group increased 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. JPMorgan Chase & Co. boosted their target price on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $136.12.

Discover Financial Services Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $37.34 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 0.94 and a beta of 1.41. The stock has a fifty day moving average of $138.81 and a two-hundred day moving average of $131.70.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, beating the consensus estimate of $3.28 by $0.41. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. During the same period in the prior year, the firm earned $2.59 earnings per share. As a group, equities research analysts forecast that Discover Financial Services will post 13.15 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. increased its holdings in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Discover Financial Services during the second quarter worth about $26,000. Y.D. More Investments Ltd lifted its stake in Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 195 shares in the last quarter. 86.94% of the stock is owned by institutional investors.

About Discover Financial Services

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.