Shares of Discover Financial Services (NYSE:DFS) gapped up prior to trading on Friday . The stock had previously closed at $52.81, but opened at $53.22. Discover Financial Services shares last traded at $54.91, with a volume of 1,477,194 shares trading hands.

DFS has been the subject of several research analyst reports. Vetr upgraded Discover Financial Services from a “buy” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a report on Monday, April 11th. Zacks Investment Research lowered Discover Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Goldman Sachs Group Inc. upped their price objective on Discover Financial Services from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, April 20th. Bank of America Corp. reaffirmed a “hold” rating and set a $56.00 target price on shares of Discover Financial Services in a report on Wednesday, April 20th. Finally, Sanford C. Bernstein upped their target price on Discover Financial Services from $68.00 to $71.00 and gave the company an “outperform” rating in a report on Wednesday, April 20th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Discover Financial Services currently has a consensus rating of “Buy” and a consensus target price of $62.82.

The firm’s 50 day moving average is $54.58 and its 200 day moving average is $51.60. The firm has a market capitalization of $22.66 billion and a PE ratio of 10.58.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.06. The firm earned $2.22 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts forecast that Discover Financial Services will post $5.69 earnings per share for the current year.

In related news, CEO David W. Nelms sold 15,000 shares of Discover Financial Services stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $53.61, for a total value of $804,150.00. Following the sale, the chief executive officer now owns 1,772,014 shares of the company’s stock, valued at $94,997,670.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David W. Nelms sold 32,399 shares of Discover Financial Services stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $56.37, for a total value of $1,826,331.63. Following the completion of the sale, the chief executive officer now directly owns 1,874,413 shares in the company, valued at approximately $105,660,660.81. The disclosure for this sale can be found here.

Several hedge funds recently added to or reduced their stakes in the stock. Alley Co LLC increased its stake in Discover Financial Services by 0.3% in the fourth quarter. Alley Co LLC now owns 34,015 shares of the financial services provider’s stock worth $1,824,000 after buying an additional 116 shares in the last quarter. Tredje AP fonden increased its stake in Discover Financial Services by 0.6% in the fourth quarter. Tredje AP fonden now owns 30,184 shares of the financial services provider’s stock worth $1,618,000 after buying an additional 169 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Discover Financial Services by 1.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 132,426 shares of the financial services provider’s stock worth $7,101,000 after buying an additional 1,700 shares in the last quarter. SVA Plumb Wealth Management LLC increased its stake in Discover Financial Services by 2.1% in the fourth quarter. SVA Plumb Wealth Management LLC now owns 85,290 shares of the financial services provider’s stock worth $4,573,000 after buying an additional 1,774 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in Discover Financial Services by 3.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 62,229 shares of the financial services provider’s stock worth $3,337,000 after buying an additional 2,283 shares in the last quarter.

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.