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

StockNews.com began coverage on shares of Discover Financial Services (NYSE:DFS) in a report published on Wednesday. The brokerage issued a hold rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on DFS. Jefferies Financial Group boosted their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $145.00 to $160.00 and gave the stock an outperform rating in a report on Monday, July 8th. BTIG Research assumed coverage on Discover Financial Services in a research note on Friday, June 7th. They issued a neutral rating for the company. JPMorgan Chase & Co. upped their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada increased their price objective on Discover Financial Services from $140.00 to $148.00 and gave the stock a sector perform rating in a report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Discover Financial Services has an average rating of Hold and an average price target of $132.94.

Discover Financial Services Price Performance

Shares of DFS stock opened at $139.25 on Wednesday. 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 has a fifty-two week low of $79.04 and a fifty-two week high of $147.61. The firm has a market cap of $34.92 billion, a P/E ratio of 15.87, a P/E/G ratio of 0.94 and a beta of 1.42. The business’s 50 day moving average price is $134.48 and its 200-day moving average price is $129.16.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating the consensus estimate of $3.06 by $3.00. The business had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.54 earnings per share. On average, equities research analysts anticipate that Discover Financial Services will post 12.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.01%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Hedge funds have recently added to or reduced their stakes in the company. TrinityPoint Wealth LLC purchased a new position in Discover Financial Services in the 4th quarter worth about $300,000. Dynamic Technology Lab Private Ltd bought a new position in Discover Financial Services during the fourth quarter valued at approximately $215,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Discover Financial Services by 9.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 32,145 shares of the financial services provider’s stock worth $3,613,000 after purchasing an additional 2,777 shares during the last quarter. SageView Advisory Group LLC bought a new stake in Discover Financial Services in the 4th quarter worth approximately $250,000. Finally, Orion Portfolio Solutions LLC raised its stake in Discover Financial Services by 26.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 11,713 shares of the financial services provider’s stock valued at $1,322,000 after buying an additional 2,481 shares during the last quarter. 86.94% of the stock is currently owned by hedge funds and other 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.