Discover Financial Services (NYSE:DFS) Given New $160.00 Price Target at Wells Fargo & Company

Discover Financial Services (NYSE:DFS) had its target price hoisted by Wells Fargo & Company from $152.00 to $160.00 in a research note published on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday. Evercore ISI lifted their target price on shares of Discover Financial Services from $140.00 to $156.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Keefe, Bruyette & Woods lifted their target price on shares of Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. lifted their target price 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. Finally, BMO Capital Markets lifted their target price 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. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $136.12.

Discover Financial Services Stock Down 1.2 %

DFS stock opened at $148.68 on Friday. The company has a market cap of $37.29 billion, a P/E ratio of 16.95, a P/E/G ratio of 0.94 and a beta of 1.41. Discover Financial Services has a 52 week low of $79.04 and a 52 week high of $152.90. The company’s 50-day moving average price is $137.08 and its 200 day moving average price is $131.02. The company has a current ratio of 1.12, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. During the same quarter in the previous year, the business posted $2.59 earnings per share. On average, research analysts expect that Discover Financial Services will post 13.15 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. increased its position in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 157 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in Discover Financial Services during the second quarter worth approximately $26,000. Y.D. More Investments Ltd increased its position in Discover Financial Services by 147.8% during the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 133 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after buying an additional 95 shares during the period. Finally, Larson Financial Group LLC grew its stake in Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Company Profile

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.