Discover Financial Services (NYSE:DFS) PT Raised to $160.00

Discover Financial Services (NYSE:DFS) had its price target lifted by Keefe, Bruyette & Woods from $145.00 to $160.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 23.08% from the stock’s previous close.

DFS has been the topic of several other research reports. StockNews.com assumed coverage on shares of Discover Financial Services in a research note on Sunday. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their target price on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. BTIG Research assumed coverage on Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price objective on Discover Financial Services from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Finally, Seaport Res Ptn cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Friday, March 15th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $129.78.

Discover Financial Services Stock Performance

Shares of Discover Financial Services stock opened at $130.00 on Monday. The firm has a 50 day simple moving average of $125.32 and a 200 day simple moving average of $119.98. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $133.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $32.60 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.78 and a beta of 1.44.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same quarter in the previous year, the firm earned $3.58 EPS. Sell-side analysts predict that Discover Financial Services will post 11.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Discover Financial Services

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Discover Financial Services in the fourth quarter worth $322,199,000. Truist Financial Corp lifted its position in Discover Financial Services by 239.6% during the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock worth $227,912,000 after buying an additional 1,430,637 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Discover Financial Services during the 4th quarter worth about $121,113,000. Envestnet Asset Management Inc. grew its holdings in shares of Discover Financial Services by 60.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock valued at $238,605,000 after acquiring an additional 803,738 shares in the last quarter. Finally, Canoe Financial LP acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at about $72,265,000. 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; 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.