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

Discover Financial Services (NYSE:DFS) had its target price decreased by Truist Financial from $262.00 to $219.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price indicates a potential upside of 32.81% from the stock’s previous close.

Several other research analysts also recently commented on DFS. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Barclays raised their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $192.40.

Discover Financial Services Stock Up 0.3 %

DFS opened at $164.90 on Friday. The company has a 50 day moving average of $186.18 and a 200 day moving average of $168.86. The company has a market cap of $41.49 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate 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, sell-side analysts expect that Discover Financial Services will post 13.88 EPS for the current year.

Hedge Funds Weigh In On Discover Financial Services

Large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services in the 3rd quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in Discover Financial Services in the 4th quarter worth $33,000. Flagship Wealth Advisors LLC purchased a new position in Discover Financial Services in the 4th quarter worth $34,000. Mattson Financial Services LLC purchased a new position in Discover Financial Services in the 4th quarter worth $34,000. Finally, Grove Bank & Trust raised its position in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares during the period. Hedge funds and other 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; 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.