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

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

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $132.00 to $135.00 and gave the company a neutral rating in a report on Friday, July 19th. Jefferies Financial Group boosted 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 note on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an outperform rating in a research note on Monday, July 8th. Royal Bank of Canada boosted their price objective on shares of 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. Finally, BTIG Research began coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a neutral rating for the company. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $132.94.

Discover Financial Services Stock Performance

NYSE DFS opened at $138.12 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $147.61. The business’s 50-day moving average price is $133.73 and its 200 day moving average price is $127.45. The firm has a market cap of $34.64 billion, a P/E ratio of 15.75, a P/E/G ratio of 0.96 and a beta of 1.43.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, beating analysts’ consensus estimates of $3.06 by $3.00. Discover Financial Services had a return on equity of 20.92% and a net margin of 12.88%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the company earned $3.54 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts expect that Discover Financial Services will post 12.75 earnings per share for the current year.

Discover Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.03%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Institutional investors have recently modified their holdings of the stock. Axxcess Wealth Management LLC grew its position in Discover Financial Services by 135.1% in the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 4,478 shares during the last quarter. D.A. Davidson & CO. grew its position in Discover Financial Services by 238.7% in the 4th quarter. D.A. Davidson & CO. now owns 14,783 shares of the financial services provider’s stock worth $1,662,000 after purchasing an additional 10,418 shares during the last quarter. Principal Securities Inc. bought a new position in Discover Financial Services in the 4th quarter worth about $1,073,000. Scotia Capital Inc. grew its position in Discover Financial Services by 57.6% in the 4th quarter. Scotia Capital Inc. now owns 25,404 shares of the financial services provider’s stock worth $2,855,000 after purchasing an additional 9,287 shares during the last quarter. Finally, Gabelli Funds LLC bought a new position in Discover Financial Services in the 1st quarter worth about $983,000. 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.