Discover Financial Services (NYSE:DFS) PT Raised to $156.00

Discover Financial Services (NYSE:DFS) had its price objective upped by Evercore ISI from $140.00 to $156.00 in a research report report published on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the financial services provider’s stock.

Several other research firms have also issued reports on DFS. Royal Bank of Canada upped their price objective on Discover Financial Services from $140.00 to $148.00 and gave the company a sector perform rating in a research note on Friday, July 19th. BMO Capital Markets raised their price target on Discover Financial Services from $115.00 to $119.00 and gave the company a market perform rating in a report on Friday, July 19th. Barclays upped their price objective on shares of Discover Financial Services from $135.00 to $137.00 and gave the company an equal weight rating in a report on Friday, July 19th. Jefferies Financial Group increased their price objective on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a buy rating in a research report on Tuesday, July 9th. Finally, StockNews.com initiated coverage on shares of Discover Financial Services in a report on Thursday, October 3rd. They set a hold rating for the company. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $133.88.

Discover Financial Services Stock Performance

NYSE DFS opened at $141.74 on Monday. The firm has a market capitalization of $35.55 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The firm’s fifty day moving average price is $134.28 and its two-hundred day moving average price is $130.13. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the firm earned $3.54 EPS. Discover Financial Services’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, research analysts anticipate that Discover Financial Services will post 12.88 EPS for the current year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.98%. Discover Financial Services’s payout ratio is 31.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CHICAGO TRUST Co NA bought a new position in Discover Financial Services in the third quarter valued at approximately $437,000. Exchange Traded Concepts LLC bought a new stake in Discover Financial Services during the third quarter worth $863,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Discover Financial Services by 458.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,949 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 1,600 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Discover Financial Services by 491.8% in the 3rd quarter. Independence Bank of Kentucky now owns 5,622 shares of the financial services provider’s stock valued at $789,000 after purchasing an additional 4,672 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of Discover Financial Services by 37.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after buying an additional 79 shares in the last quarter. 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.