Discover Financial Services (NYSE:DFS) Given New $219.00 Price Target at Truist Financial

Discover Financial Services (NYSE:DFS) had its target price lowered by Truist Financial from $262.00 to $219.00 in a report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on the company. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the company from $150.00 to $239.00 in a report on Monday, January 13th. Wells Fargo & Company upped their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their target price on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Royal Bank of Canada raised their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Finally, Barclays lifted their price target on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $192.40.

Discover Financial Services Price Performance

Discover Financial Services stock opened at $164.90 on Friday. The company has a fifty day simple moving average of $186.18 and a 200-day simple moving average of $168.64. The firm has a market capitalization of $41.49 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.51 and a beta of 1.45. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, equities analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.70%. Discover Financial Services’s payout ratio is presently 17.54%.

Hedge Funds Weigh In On Discover Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hemington Wealth Management boosted its stake in shares of Discover Financial Services by 11.0% in the fourth quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 50 shares during the period. Rehmann Capital Advisory Group boosted its position in Discover Financial Services by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 5,152 shares of the financial services provider’s stock valued at $892,000 after buying an additional 51 shares during the period. UMB Bank n.a. grew its stake in shares of Discover Financial Services by 0.6% in the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after acquiring an additional 56 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Discover Financial Services by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after acquiring an additional 57 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Discover Financial Services by 4.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 57 shares in the last quarter. 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; 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.