Discover Financial Services (NYSE:DFS) Reaches New 52-Week High – Here’s What Happened

Shares of Discover Financial Services (NYSE:DFS) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $205.76 and last traded at $204.72, with a volume of 306886 shares changing hands. The stock had previously closed at $201.03.

Analyst Upgrades and Downgrades

DFS has been the subject of a number of recent research reports. Royal Bank of Canada lifted 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. Keefe, Bruyette & Woods lifted their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Truist Financial increased their price objective on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Barclays lifted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Finally, UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $182.64.

Discover Financial Services Stock Down 0.7 %

The company has a market capitalization of $50.54 billion, a PE ratio of 12.60, a PEG ratio of 0.64 and a beta of 1.46. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $181.46 and its two-hundred day moving average is $156.91.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, analysts anticipate that Discover Financial Services will post 13.39 earnings per share for the current year.

Discover Financial Services Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.39%. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Institutional Investors Weigh In On Discover Financial Services

Several large investors have recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. grew its stake in shares of Discover Financial Services by 506.5% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after buying an additional 157 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services in the third quarter worth about $30,000. Grove Bank & Trust grew its position in Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares in the last quarter. Bfsg LLC bought a new stake in Discover Financial Services during the fourth quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. purchased a new stake in Discover Financial Services during the fourth quarter valued at approximately $37,000. 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.