Discover Financial Services (NYSE:DFS) Shares Up 4.6%

Discover Financial Services (NYSE:DFS) shares shot up 4.6% on Friday . The stock traded as high as $131.09 and last traded at $129.43. 1,019,969 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 1,870,084 shares. The stock had previously closed at $123.73.

Analyst Ratings Changes

Several brokerages recently weighed in on DFS. BTIG Research assumed coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Jefferies Financial Group lifted their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. Finally, HSBC lifted their price objective on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a “hold” rating in a research note on Thursday, March 21st. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $126.29.

Discover Financial Services Trading Up 5.7 %

The company’s fifty day moving average is $124.71 and its two-hundred day moving average is $118.43. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $32.80 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.76 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same quarter last year, the company posted $3.58 EPS. On average, research analysts anticipate that Discover Financial Services will post 11.46 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a yield of 2.14%. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Several hedge funds have recently bought and sold shares of DFS. Partnership Wealth Management LLC purchased a new position in shares of Discover Financial Services during the 4th quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at $28,000. MeadowBrook Investment Advisors LLC acquired a new stake in Discover Financial Services in the 4th quarter valued at $31,000. Riverview Trust Co acquired a new stake in Discover Financial Services in the 1st quarter valued at $34,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Discover Financial Services in the 1st quarter valued at $34,000. 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; 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.