Discover Financial Services (NYSE:DFS) Price Target Increased to $137.00 by Analysts at Barclays

Discover Financial Services (NYSE:DFS) had its target price raised by analysts at Barclays from $135.00 to $137.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential downside of 4.17% from the company’s previous close.

DFS has been the topic of a number of other reports. Jefferies Financial Group upped their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Wells Fargo & Company upped their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. HSBC boosted their price objective on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Finally, StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Monday. They issued a “hold” rating on the stock. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $131.33.

Discover Financial Services Price Performance

Shares of NYSE:DFS traded up $0.07 on Friday, reaching $142.96. 789,754 shares of the company were exchanged, compared to its average volume of 1,837,632. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The firm has a market cap of $35.85 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The company has a 50-day moving average of $127.03 and a 200-day moving average of $121.06.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping 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 21.49%. The business 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 company posted $3.54 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts forecast that Discover Financial Services will post 11.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its holdings in shares of Discover Financial Services by 335.4% during the 4th quarter. DAVENPORT & Co LLC now owns 63,796 shares of the financial services provider’s stock worth $7,171,000 after acquiring an additional 49,145 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Discover Financial Services by 238.7% during the 4th quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock worth $1,662,000 after acquiring an additional 10,418 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Discover Financial Services by 1.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 916,367 shares of the financial services provider’s stock worth $103,000,000 after acquiring an additional 16,532 shares during the period. Principal Securities Inc. purchased a new position in shares of Discover Financial Services during the 4th quarter worth about $1,073,000. Finally, Scotia Capital Inc. lifted its holdings in shares of Discover Financial Services by 57.6% during the 4th quarter. Scotia Capital Inc. now owns 25,404 shares of the financial services provider’s stock worth $2,855,000 after acquiring an additional 9,287 shares during the period. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

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.