Discover Financial Services (NYSE:DFS) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Discover Financial Services (NYSE:DFS) in a research report sent to investors on Tuesday. The firm issued a hold rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on DFS. 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 report on Friday, July 19th. Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a buy rating in a report on Tuesday, July 9th. 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 report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an outperform rating in a report on Monday, July 8th. Finally, BTIG Research began coverage on shares of Discover Financial Services in a report on Friday, June 7th. They set a neutral rating for the company. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $132.94.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $143.92 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. The firm’s 50-day simple moving average is $134.56 and its 200-day simple moving average is $128.42. Discover Financial Services has a twelve month low of $79.04 and a twelve month high of $147.61. The firm has a market cap of $36.09 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the business earned $3.54 EPS. The firm’s revenue was up 17.0% on a year-over-year basis. As a group, research analysts expect that Discover Financial Services will post 12.87 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new stake in shares of Discover Financial Services during the second quarter worth approximately $26,000. Y.D. More Investments Ltd raised its stake in shares of Discover Financial Services by 147.8% during the second 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 last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Discover Financial Services by 72.5% during the second 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 last quarter. Larson Financial Group LLC grew its holdings in Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares during the period. Finally, Riverview Trust Co acquired a new position in Discover Financial Services during the first quarter valued at approximately $34,000. 86.94% of the stock is 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; 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.