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

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

A number of other analysts have also weighed in on the stock. BTIG Research started coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They set a neutral rating on the stock. Barclays upped their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an equal weight rating in a research note on Friday, April 19th. HSBC raised their price objective on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a hold rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Discover Financial Services from $137.00 to $145.00 and gave the stock a buy rating in a report on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $126.29.

Discover Financial Services Stock Up 1.7 %

DFS stock opened at $132.97 on Friday. The company’s 50 day moving average price is $124.81 and its 200 day moving average price is $118.86. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.12 and a current ratio of 1.12. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $133.78. The firm has a market capitalization of $33.35 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.79 and a beta of 1.44.

Discover Financial Services (NYSE:DFS) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same quarter in the previous year, the company posted $3.58 earnings per share. On average, equities research analysts anticipate that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.70 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. Discover Financial Services’s payout ratio is 31.93%.

Hedge Funds Weigh In On Discover Financial Services

A number of institutional investors have recently modified their holdings of DFS. Partnership Wealth Management LLC acquired a new position in shares of Discover Financial Services in the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in Discover Financial Services in the 4th quarter valued at $28,000. MeadowBrook Investment Advisors LLC purchased a new position in Discover Financial Services in the 4th quarter valued at $31,000. Riverview Trust Co purchased a new position in Discover Financial Services in the 1st quarter valued at $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in Discover Financial Services in the 1st quarter valued at $34,000. 86.94% of the stock is owned by institutional investors and hedge funds.

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.