Discover Financial Services (NYSE:DFS) Earns Buy Rating from Analysts at Truist Financial

Stock analysts at Truist Financial initiated coverage on shares of Discover Financial Services (NYSE:DFS) in a research note issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $233.00 price target on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 30.25% from the company’s current price.

Other equities analysts also recently issued reports about the company. Barclays upgraded Discover Financial Services from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $137.00 to $186.00 in a research report on Monday. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their target price on Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Evercore ISI raised their target price on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $160.07.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $178.89 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $44.94 billion, a PE ratio of 14.44, a P/E/G ratio of 1.13 and a beta of 1.46. Discover Financial Services has a 12 month low of $96.46 and a 12 month high of $188.26. The stock has a 50-day moving average price of $173.39 and a two-hundred day moving average price of $149.34.

Discover Financial Services (NYSE:DFS) last posted its 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. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the company earned $2.59 earnings per share. Analysts expect that Discover Financial Services will post 13.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DFS. DiNuzzo Private Wealth Inc. lifted its holdings in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 157 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Discover Financial Services during the third quarter worth $30,000. Y.D. More Investments Ltd lifted its holdings in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares during the period. Larson Financial Group LLC lifted its holdings in Discover Financial Services by 348.2% during the second 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 during the period. Finally, Pinnacle Bancorp Inc. lifted its holdings in Discover Financial Services by 37.1% during the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 79 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.