Royal Bank of Canada Forecasts Strong Price Appreciation for Discover Financial Services (NYSE:DFS) Stock

Discover Financial Services (NYSE:DFS) had its target price hoisted by Royal Bank of Canada from $193.00 to $210.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 4.17% from the stock’s current price.

DFS has been the subject of a number of other reports. Keefe, Bruyette & Woods lifted their target price on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company lifted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday. Truist Financial assumed coverage on shares of Discover Financial Services in a research note on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price target for the company. Finally, Barclays increased their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.57.

Discover Financial Services Trading Up 0.3 %

DFS opened at $201.59 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. The firm has a market cap of $50.66 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.15 and a beta of 1.46. Discover Financial Services has a 52 week low of $101.71 and a 52 week high of $204.93. The business has a fifty day simple moving average of $178.82 and a 200-day simple moving average of $154.51.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. On average, equities analysts expect that Discover Financial Services will post 12.82 earnings per share for the current year.

Institutional Trading of Discover Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in DFS. Flavin Financial Services Inc. acquired a new stake in Discover Financial Services in the fourth quarter valued at about $937,000. Calamos Wealth Management LLC purchased a new position in shares of Discover Financial Services during the 4th quarter worth approximately $250,000. Patron Partners LLC lifted its holdings in shares of Discover Financial Services by 4.7% in the 4th quarter. Patron Partners LLC now owns 4,500 shares of the financial services provider’s stock valued at $779,000 after buying an additional 201 shares during the period. Trust Point Inc. purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $220,000. Finally, Catalina Capital Group LLC acquired a new position in Discover Financial Services during the fourth quarter worth $201,000. 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.