JPMorgan Chase & Co. Boosts Discover Financial Services (NYSE:DFS) Price Target to $132.00

Discover Financial Services (NYSE:DFS) had its price objective boosted by JPMorgan Chase & Co. from $120.00 to $132.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on the stock. StockNews.com assumed coverage on shares of Discover Financial Services in a research note on Sunday. They issued a hold rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an outperform rating in a research note on Monday. Barclays boosted their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the company an equal weight rating in a research note on Friday, April 19th. BTIG Research assumed coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They issued a neutral rating for the company. Finally, Jefferies Financial Group boosted their target price on shares of Discover Financial Services from $137.00 to $145.00 and gave the company a buy rating in a research note on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $129.78.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $129.20 on Monday. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $133.78. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The firm’s 50-day simple moving average is $125.43 and its 200 day simple moving average is $120.05. The firm has a market capitalization of $32.40 billion, a PE ratio of 14.73, a P/E/G ratio of 0.78 and a beta of 1.44.

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

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Institutional Trading of Discover Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of DFS. Partnership Wealth Management LLC acquired a new stake in Discover Financial Services during the 4th quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in Discover Financial Services in the 4th quarter worth approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new position in Discover Financial Services in the 4th quarter worth approximately $31,000. Riverview Trust Co purchased a new position in Discover Financial Services in the 1st quarter worth approximately $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in Discover Financial Services in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

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.