Discover Financial Services (DFS) Price Target Raised to $91.00

Discover Financial Services (NYSE:DFS) had its price objective hoisted by JMP Securities to $91.00 in a research note released on Thursday morning. JMP Securities currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Oppenheimer set a $71.00 price target on shares of Discover Financial Services and gave the company a buy rating in a report on Tuesday, October 24th. Buckingham Research initiated coverage on shares of Discover Financial Services in a report on Monday, October 2nd. They set a buy rating and a $74.00 price target for the company. Royal Bank of Canada reaffirmed a buy rating and set a $86.00 price target on shares of Discover Financial Services in a report on Wednesday, October 25th. Nomura decreased their price objective on shares of Discover Financial Services from $81.00 to $79.00 and set a buy rating for the company in a report on Wednesday, October 25th. Finally, ValuEngine raised shares of Discover Financial Services from a hold rating to a buy rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $85.52.

Shares of Discover Financial Services (DFS) opened at $80.98 on Thursday. The firm has a market cap of $29,179.46, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.31 and a beta of 1.52. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $81.25. The company has a current ratio of 1.08, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Stockholders of record on Thursday, February 22nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.73%. Discover Financial Services’s payout ratio is currently 25.88%.

In other news, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $66.79, for a total value of $1,019,081.82. Following the transaction, the chief operating officer now directly owns 769,440 shares in the company, valued at approximately $51,390,897.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $76.81, for a total transaction of $307,240.00. Following the completion of the transaction, the executive vice president now owns 134,744 shares in the company, valued at $10,349,686.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,774 shares of company stock worth $11,573,670. Insiders own 0.96% of the company’s stock.

Several institutional investors have recently bought and sold shares of DFS. Grove Bank & Trust lifted its position in shares of Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,490 shares during the last quarter. Rational Advisors LLC bought a new position in shares of Discover Financial Services in the 3rd quarter worth about $123,000. Americafirst Capital Management LLC bought a new position in shares of Discover Financial Services in the 3rd quarter worth about $140,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in Discover Financial Services in the 2nd quarter valued at about $157,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in Discover Financial Services in the 2nd quarter valued at about $170,000. Institutional investors own 84.72% of the company’s stock.

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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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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