Truist Financial Lowers Discover Financial Services (NYSE:DFS) Price Target to $219.00

Discover Financial Services (NYSE:DFS) had its price target cut by Truist Financial from $262.00 to $219.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $150.00 to $239.00 in a research note on Monday, January 13th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price objective on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Finally, Royal Bank of Canada boosted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $192.40.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $164.90 on Friday. The company’s 50-day moving average is $186.18 and its 200 day moving average is $169.10. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The company has a market capitalization of $41.49 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, equities research analysts forecast that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 17.54%.

Institutional Investors Weigh In On Discover Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of DFS. Raymond James Financial Inc. purchased a new position in shares of Discover Financial Services during the fourth quarter worth about $38,489,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Discover Financial Services by 10.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock worth $16,202,000 after purchasing an additional 10,946 shares in the last quarter. Brookstone Capital Management purchased a new position in shares of Discover Financial Services during the fourth quarter worth about $282,000. Meyer Handelman Co. purchased a new position in shares of Discover Financial Services during the fourth quarter worth about $239,000. Finally, Mechanics Bank Trust Department purchased a new position in shares of Discover Financial Services during the fourth quarter worth about $234,000. 86.94% of the stock is currently owned by institutional investors.

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.