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

StockNews.com started coverage on shares of Discover Financial Services (NYSE:DFS) in a report released on Monday. The firm issued a hold rating on the financial services provider’s stock.

A number of other brokerages have also commented on DFS. Jefferies Financial Group raised their price objective on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a buy rating in a report on Tuesday, July 9th. BTIG Research assumed coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They issued a neutral rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the company a neutral rating in a research note on Friday, July 19th. Barclays lifted their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an equal weight rating in a research note on Friday, July 19th. Finally, BMO Capital Markets lifted their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a market perform rating in a research note on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $132.94.

Discover Financial Services Trading Up 3.6 %

Shares of NYSE:DFS opened at $133.33 on Monday. Discover Financial Services has a 12 month low of $79.04 and a 12 month high of $147.61. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. The company’s fifty day simple moving average is $134.06 and its 200 day simple moving average is $127.83. The firm has a market cap of $33.48 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 0.86 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the business posted $3.54 earnings per share. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, research analysts forecast that Discover Financial Services will post 12.87 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.10%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Institutional Trading of Discover Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Partnership Wealth Management LLC bought a new stake in shares of Discover Financial Services during the 4th quarter worth about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the 2nd quarter worth about $26,000. Y.D. More Investments Ltd boosted its holdings in shares of Discover Financial Services by 147.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after buying an additional 133 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Discover Financial Services by 72.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after buying an additional 95 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after buying an additional 195 shares during the period. 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.