Discover Financial Services (NYSE:DFS) Now Covered by StockNews.com

StockNews.com began coverage on shares of Discover Financial Services (NYSE:DFS) in a research report report published on Monday. The brokerage issued a hold rating on the financial services provider’s stock.

DFS has been the topic of several other research reports. Wells Fargo & Company boosted their price target on Discover Financial Services from $105.00 to $135.00 and gave the company an equal weight rating in a research note on Wednesday, April 10th. HSBC upped their target price on Discover Financial Services from $107.00 to $144.00 and gave the stock a hold rating in a research note on Thursday, March 21st. Evercore ISI upped their target price on Discover Financial Services from $117.00 to $140.00 and gave the stock an in-line rating in a research note on Thursday, February 22nd. BMO Capital Markets lowered their target price on Discover Financial Services from $116.00 to $104.00 and set a market perform rating on the stock in a research note on Monday, January 22nd. Finally, Morgan Stanley upgraded Discover Financial Services from an equal weight rating to an overweight rating and upped their target price for the stock from $105.00 to $133.00 in a research note on Thursday, February 8th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $126.29.

Discover Financial Services Trading Down 0.7 %

Shares of NYSE:DFS opened at $124.30 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50-day moving average is $125.09 and its 200 day moving average is $112.35. The firm has a market capitalization of $31.15 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.75 and a beta of 1.43. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $131.65.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. During the same quarter in the previous year, the firm posted $3.58 EPS. On average, research analysts predict that Discover Financial Services will post 11.48 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.25%. Discover Financial Services’s payout ratio is currently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in DFS. M&T Bank Corp grew its position in Discover Financial Services by 4.7% in the third quarter. M&T Bank Corp now owns 31,716 shares of the financial services provider’s stock worth $2,747,000 after acquiring an additional 1,434 shares during the period. FDx Advisors Inc. grew its position in Discover Financial Services by 29.7% in the third quarter. FDx Advisors Inc. now owns 2,348 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 538 shares during the period. Duality Advisers LP purchased a new position in Discover Financial Services in the third quarter worth approximately $484,000. Tokio Marine Asset Management Co. Ltd. grew its position in Discover Financial Services by 23.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,380 shares of the financial services provider’s stock worth $553,000 after acquiring an additional 1,230 shares during the period. Finally, Dai ichi Life Insurance Company Ltd purchased a new position in Discover Financial Services in the third quarter worth approximately $202,000. Institutional investors and hedge funds 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; 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.