JPMorgan Chase & Co. Cuts Discover Financial Services (NYSE:DFS) Price Target to $146.00

Discover Financial Services (NYSE:DFS) had its target price lowered by stock analysts at JPMorgan Chase & Co. from $150.00 to $146.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 18.44% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Wells Fargo & Company raised their price objective on Discover Financial Services from $160.00 to $185.00 and gave the company an “equal weight” rating in a research note on Friday, January 3rd. Royal Bank of Canada raised 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 report on Friday, October 18th. Barclays upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $137.00 to $186.00 in a research note on Monday, January 6th. Evercore ISI increased their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and nine 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 $164.75.

Discover Financial Services Stock Up 1.9 %

Shares of DFS traded up $3.32 during midday trading on Tuesday, reaching $179.00. 228,195 shares of the company were exchanged, compared to its average volume of 1,152,456. Discover Financial Services has a 1-year low of $96.46 and a 1-year high of $188.26. The stock has a 50-day moving average price of $175.82 and a 200-day moving average price of $151.06. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The company has a market cap of $44.94 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.12 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. During the same quarter last year, the firm posted $2.59 earnings per share. Research analysts expect that Discover Financial Services will post 13.43 earnings per share for the current year.

Institutional Investors Weigh In On Discover Financial Services

Several large investors have recently modified their holdings of DFS. FMR LLC lifted its position in shares of Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after acquiring an additional 558,227 shares in the last quarter. Samlyn Capital LLC lifted its holdings in shares of Discover Financial Services by 368.0% in the second quarter. Samlyn Capital LLC now owns 646,691 shares of the financial services provider’s stock valued at $84,594,000 after purchasing an additional 508,504 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Discover Financial Services by 1,272.0% in 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. Point72 Asset Management L.P. raised its position in Discover Financial Services by 67.1% during the second quarter. Point72 Asset Management L.P. now owns 478,599 shares of the financial services provider’s stock valued at $62,606,000 after buying an additional 192,142 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Discover Financial Services in the 3rd quarter worth about $21,169,000. 86.94% of the stock is owned by institutional investors.

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.