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.

A number of research firms have recently weighed in on DFS. DA Davidson reiterated a “buy” rating and issued a $62.00 price objective on shares of Discover Financial Services in a research note on Friday. Credit Suisse Group AG restated an “outperform” rating on shares of Discover Financial Services in a research report on Tuesday, July 5th. JPMorgan Chase & Co. restated a “hold” rating on shares of Discover Financial Services in a research report on Thursday, June 30th. Deutsche Bank AG restated a “buy” rating on shares of Discover Financial Services in a research report on Sunday, June 26th. Finally, Morgan Stanley restated a “buy” rating and set a $70.00 price target on shares of Discover Financial Services in a research report on Thursday, June 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $62.82.

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

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Tuesday, April 19th. The financial services provider reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.06. During the same period last year, the company earned $1.28 earnings per share. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.18 billion. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that Discover Financial Services will post $5.69 EPS for the current year.

In other news, COO Roger C. Hochschild sold 10,000 shares of the company’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $53.72, for a total transaction of $537,200.00. Following the transaction, the chief operating officer now directly owns 865,772 shares of the company’s stock, valued at approximately $46,509,271.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David W. Nelms sold 32,399 shares of the company’s stock in a transaction on Thursday, April 21st. The stock was sold at an average price of $56.37, for a total transaction of $1,826,331.63. Following the transaction, the chief executive officer now directly owns 1,874,413 shares in the company, valued at $105,660,660.81. The disclosure for this sale can be found here.

A number of large investors have modified their holdings of DFS. Morgan Stanley boosted its stake in shares of Discover Financial Services by 14.5% in the fourth quarter. Morgan Stanley now owns 3,000,803 shares of the financial services provider’s stock worth $160,903,000 after buying an additional 381,060 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Discover Financial Services by 158.5% in the fourth quarter. Sei Investments Co. now owns 185,665 shares of the financial services provider’s stock worth $9,955,000 after buying an additional 113,846 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Discover Financial Services by 19.8% in the fourth quarter. Wells Fargo & Company MN now owns 3,316,488 shares of the financial services provider’s stock worth $177,830,000 after buying an additional 549,091 shares during the last quarter. Calamos Advisors LLC boosted its stake in shares of Discover Financial Services by 17.7% in the fourth quarter. Calamos Advisors LLC now owns 230,628 shares of the financial services provider’s stock worth $12,366,000 after buying an additional 34,654 shares during the last quarter. Finally, Tredje AP fonden boosted its stake in shares of 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 during 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.

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