Discover Financial Services (NYSE:DFS) Price Target Raised to $214.00

Discover Financial Services (NYSE:DFS) had its price target upped by Wells Fargo & Company from $185.00 to $214.00 in a research note issued to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Several other research firms also recently weighed in on DFS. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods raised their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada upped their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Barclays raised their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $180.57.

Discover Financial Services Price Performance

Shares of DFS stock opened at $201.59 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. The stock has a market cap of $50.66 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.15 and a beta of 1.46. The business’s fifty day moving average is $178.30 and its 200 day moving average is $154.01. Discover Financial Services has a twelve month low of $101.71 and a twelve month high of $204.93.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. Research analysts expect that Discover Financial Services will post 12.82 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is 17.54%.

Institutional Investors Weigh In On Discover Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Flavin Financial Services Inc. purchased a new stake in Discover Financial Services during the fourth quarter valued at approximately $937,000. Calamos Wealth Management LLC bought a new stake in shares of Discover Financial Services during the 4th quarter valued at $250,000. Patron Partners LLC increased its stake in shares of Discover Financial Services by 4.7% in the 4th quarter. Patron Partners LLC now owns 4,500 shares of the financial services provider’s stock worth $779,000 after purchasing an additional 201 shares in the last quarter. Trust Point Inc. bought a new position in Discover Financial Services in the 4th quarter worth $220,000. Finally, Catalina Capital Group LLC purchased a new position in Discover Financial Services during the fourth quarter valued at $201,000. Hedge funds and other institutional investors 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.