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

StockNews.com assumed coverage on shares of Discover Financial Services (NYSE:DFS) in a research note published on Monday. The firm issued a hold rating on the financial services provider’s stock.

DFS has been the topic of a number of other reports. Morgan Stanley raised Discover Financial Services from an equal weight rating to an overweight rating and raised their target price for the stock from $105.00 to $133.00 in a report on Thursday, February 8th. Piper Sandler increased their target price on shares of Discover Financial Services from $127.00 to $145.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Royal Bank of Canada reaffirmed a sector perform rating and set a $140.00 price target (up previously from $117.00) on shares of Discover Financial Services in a report on Wednesday, February 21st. JPMorgan Chase & Co. increased 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. Finally, HSBC raised their price objective on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a hold rating in a research report on Thursday, March 21st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services currently has a consensus rating of Hold and a consensus price target of $126.29.

Discover Financial Services Trading Down 1.2 %

Discover Financial Services stock opened at $122.81 on Monday. The business has a 50-day simple moving average of $125.07 and a two-hundred day simple moving average of $112.43. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $131.65. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The company has a market cap of $30.78 billion, a P/E ratio of 14.00, a P/E/G ratio of 0.76 and a beta of 1.43.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($1.88). Discover Financial Services had a net margin of 10.56% and a return on equity of 17.07%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same quarter last year, the firm posted $3.58 earnings per share. Analysts predict that Discover Financial Services will post 11.48 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Wednesday, May 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

A number of hedge funds have recently bought and sold shares of the business. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in Discover Financial Services during the fourth quarter valued at approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in Discover Financial Services during the fourth quarter valued at approximately $31,000. Riverview Trust Co bought a new stake in shares of Discover Financial Services in the 1st quarter valued at approximately $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Discover Financial Services in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

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.