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

StockNews.com initiated coverage on shares of Discover Financial Services (NYSE:DFS) in a report published on Tuesday. The firm issued a hold rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. Barclays lifted their price target on shares of Discover Financial Services from $135.00 to $137.00 and gave the stock an equal weight rating in a research report on Friday, July 19th. BMO Capital Markets lifted their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a market perform rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price target on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group lifted their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $131.33.

Discover Financial Services Price Performance

Shares of NYSE:DFS opened at $141.62 on Tuesday. The firm’s 50 day moving average is $128.62 and its two-hundred day moving average is $122.07. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $147.61. The firm has a market capitalization of $35.52 billion, a P/E ratio of 16.15, a PEG ratio of 0.93 and a beta of 1.44. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 1.50.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the business earned $3.54 earnings per share. Discover Financial Services’s revenue was up 17.0% compared to the same quarter last year. Analysts anticipate that Discover Financial Services will post 12.23 earnings per share for the current year.

Discover Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in DFS. Dynamic Advisor Solutions LLC acquired a new position in shares of Discover Financial Services during the 4th quarter valued at about $236,000. Whittier Trust Co. increased its stake in shares of Discover Financial Services by 10.3% in the fourth quarter. Whittier Trust Co. now owns 2,000 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 187 shares during the period. Brookstone Capital Management bought a new position in shares of Discover Financial Services in the fourth quarter worth about $242,000. Advisor Resource Council bought a new position in shares of Discover Financial Services in the fourth quarter worth about $204,000. Finally, Raymond James & Associates increased its stake in shares of Discover Financial Services by 27.1% in the fourth quarter. Raymond James & Associates now owns 339,717 shares of the financial services provider’s stock worth $38,184,000 after purchasing an additional 72,452 shares during the period. 86.94% of the stock is 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; 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.