Discover Financial Services (DFS) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reiterated their buy rating on shares of Discover Financial Services (NYSE:DFS) in a report released on Tuesday, January 9th. Royal Bank of Canada currently has a $107.00 price target on the financial services provider’s stock.

DFS has been the topic of a number of other reports. Oppenheimer set a $71.00 price objective on shares of Discover Financial Services and gave the company a buy rating in a research note on Tuesday, October 24th. Nomura reduced their price objective on shares of Discover Financial Services from $81.00 to $79.00 and set a buy rating on the stock in a research note on Wednesday, October 25th. Buckingham Research began coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. They issued a buy rating and a $74.00 price objective on the stock. ValuEngine upgraded shares of Discover Financial Services from a hold rating to a buy rating in a research report on Tuesday, September 26th. Finally, Wedbush set a $80.00 target price on shares of Discover Financial Services and gave the company a buy rating in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $80.76.

Shares of Discover Financial Services (DFS) traded down $1.57 during trading on Tuesday, reaching $78.94. 1,985,036 shares of the company’s stock traded hands, compared to its average volume of 2,123,940. Discover Financial Services has a twelve month low of $57.50 and a twelve month high of $81.23. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52. The firm has a market cap of $28,690.00, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.79 and a beta of 1.52.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.06. Discover Financial Services had a net margin of 20.04% and a return on equity of 21.01%. equities analysts forecast that Discover Financial Services will post 5.93 EPS for the current year.

In other news, CFO R. Mark Graf sold 16,503 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $66.67, for a total value of $1,100,255.01. Following the completion of the transaction, the chief financial officer now directly owns 82,402 shares in the company, valued at $5,493,741.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $533,440.00. Following the completion of the transaction, the executive vice president now 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 have sold 179,277 shares of company stock valued at $12,673,925 in the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Grove Bank & Trust raised its stake in shares of Discover Financial Services by 2,483.3% during the third 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 in the last quarter. Rational Advisors LLC purchased a new position in shares of Discover Financial Services during the third quarter worth approximately $123,000. Americafirst Capital Management LLC purchased a new position in shares of Discover Financial Services during the third quarter worth approximately $140,000. Capstone Investment Advisors Netherlands B.V. purchased a new position in shares of Discover Financial Services during the second quarter worth approximately $157,000. Finally, San Francisco Sentry Investment Group CA purchased a new position in shares of Discover Financial Services during the second quarter worth approximately $170,000. 84.78% of the stock is currently owned by institutional investors and hedge funds.

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Discover Financial Services Company Profile

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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