Discover Financial Services’ (NYSE:DFS) “Market Perform” Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co reissued their market perform rating on shares of Discover Financial Services (NYSE:DFS) in a report issued on Tuesday, January 9th, The Fly reports. The brokerage currently has a $83.00 target price on the financial services provider’s stock, up from their prior target price of $69.00.

Several other analysts have also recently issued reports on the company. Stephens set a $73.00 target price on Discover Financial Services and gave the stock a sell rating in a research report on Tuesday, January 2nd. Zacks Investment Research cut Discover Financial Services from a buy rating to a hold rating in a research report on Wednesday, January 3rd. Deutsche Bank assumed coverage on Discover Financial Services in a research report on Tuesday, January 2nd. They set a buy rating and a $92.00 target price for the company. Bank of America upgraded Discover Financial Services from a neutral rating to a buy rating and set a $83.00 target price for the company in a research report on Monday, December 18th. Finally, Wedbush set a $80.00 target price on Discover Financial Services and gave the stock a buy rating in a research report on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $80.76.

Discover Financial Services (NYSE DFS) traded down $0.01 during mid-day trading on Tuesday, reaching $78.93. The company’s stock had a trading volume of 2,415,584 shares, compared to its average volume of 2,290,000. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $81.23. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $28,680.00, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.52.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.06. Discover Financial Services had a return on equity of 21.01% and a net margin of 20.04%. sell-side analysts anticipate that Discover Financial Services will post 5.93 EPS for the current year.

In other news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.80, for a total value of $2,004,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.68, for a total value of $533,440.00. Following the completion of the sale, the executive vice president now directly owns 173,149 shares of the company’s stock, valued at $11,545,575.32. The disclosure for this sale can be found here. Insiders sold a total of 179,277 shares of company stock valued at $12,673,925 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.

Several hedge funds have recently modified their holdings of DFS. Grove Bank & Trust lifted its stake in shares of Discover Financial Services by 2,483.3% during the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,490 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Discover Financial Services during the 3rd quarter worth approximately $123,000. Americafirst Capital Management LLC bought a new stake in shares of Discover Financial Services during the 3rd quarter worth approximately $140,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of Discover Financial Services during the 2nd quarter worth approximately $157,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Discover Financial Services during the 2nd quarter worth approximately $170,000. 84.78% of the stock is owned by hedge funds and other institutional investors.

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About Discover Financial Services

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

The Fly

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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