Discover Financial Services (NYSE:DFS) Given New $150.00 Price Target at JPMorgan Chase & Co.

Discover Financial Services (NYSE:DFS) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $135.00 to $150.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 16.00% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Evercore ISI increased their target price on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $146.13.

Discover Financial Services Price Performance

Shares of DFS stock traded down $0.65 during midday trading on Monday, reaching $178.57. 278,300 shares of the company traded hands, compared to its average volume of 1,659,412. The firm’s 50 day simple moving average is $160.69 and its two-hundred day simple moving average is $141.75. The firm has a market cap of $44.83 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.04. Discover Financial Services has a 1-year low of $96.46 and a 1-year high of $188.26.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.41. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period in the previous year, the firm posted $2.59 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 13.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Discover Financial Services

A number of institutional investors have recently added to or reduced their stakes in DFS. Elser Financial Planning Inc acquired a new position in shares of Discover Financial Services in the 2nd quarter valued at about $91,044,000. FMR LLC lifted its position in Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. Samlyn Capital LLC lifted its position in Discover Financial Services by 368.0% during the second quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after buying an additional 508,504 shares in the last quarter. Mizuho Securities USA LLC grew its stake in Discover Financial Services by 1,272.0% during the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock worth $37,199,000 after buying an additional 245,829 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Discover Financial Services by 67.1% in the second quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock worth $62,606,000 after acquiring an additional 192,142 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

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; 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.