Discover Financial Services (NYSE:DFS) Sets New 52-Week High at $132.77

Discover Financial Services (NYSE:DFS) hit a new 52-week high during trading on Monday . The stock traded as high as $132.77 and last traded at $132.59, with a volume of 49762 shares traded. The stock had previously closed at $130.81.

Analyst Ratings Changes

Several research firms have recently weighed in on DFS. Jefferies Financial Group increased their price objective on Discover Financial Services from $137.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Seaport Res Ptn downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. StockNews.com assumed coverage on Discover Financial Services in a report on Saturday. They issued a “hold” rating for the company. Barclays boosted their price objective on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company boosted their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services has an average rating of “Hold” and an average price target of $126.29.

Discover Financial Services Stock Up 1.5 %

The company has a market cap of $33.28 billion, a P/E ratio of 14.92, a PEG ratio of 0.79 and a beta of 1.44. 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 has a fifty day moving average price of $124.81 and a 200 day moving average price of $118.86.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same period in the prior year, the company earned $3.58 EPS. Equities research analysts forecast that Discover Financial Services will post 11.47 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, June 6th. Shareholders of record on Thursday, May 23rd were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.11%. The ex-dividend date was Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio is 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Hedge funds have recently added to or reduced their stakes in the company. Mutual Advisors LLC grew its position in shares of Discover Financial Services by 22.9% during the 3rd quarter. Mutual Advisors LLC now owns 4,393 shares of the financial services provider’s stock worth $381,000 after buying an additional 818 shares during the period. Trexquant Investment LP grew its holdings in Discover Financial Services by 105.0% during the 3rd quarter. Trexquant Investment LP now owns 10,586 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 5,423 shares during the period. Bank of Nova Scotia raised its position in shares of Discover Financial Services by 11.6% during the 3rd quarter. Bank of Nova Scotia now owns 24,829 shares of the financial services provider’s stock valued at $2,151,000 after acquiring an additional 2,579 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of Discover Financial Services in the 3rd quarter valued at $494,000. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of Discover Financial Services in the 3rd quarter worth $333,000. 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; 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.