Discover Financial Services (NYSE:DFS) Given New $99.00 Price Target at Credit Suisse Group

Discover Financial Services (NYSE:DFS) had its price objective lifted by Credit Suisse Group from $98.00 to $99.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Zacks Investment Research raised Discover Financial Services from a hold rating to a buy rating and set a $86.00 price objective on the stock in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $85.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday. Deutsche Bank reaffirmed a hold rating and set a $87.00 price objective on shares of Discover Financial Services in a research note on Monday, July 8th. Nomura increased their price objective on Discover Financial Services from $86.00 to $96.00 and gave the company a buy rating in a research note on Wednesday, July 24th. Finally, JMP Securities raised Discover Financial Services from an outperform rating to a buy rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $86.00.

Shares of DFS stock traded down $0.78 during mid-day trading on Wednesday, reaching $79.74. The stock had a trading volume of 1,502,600 shares, compared to its average volume of 1,970,586. Discover Financial Services has a 12-month low of $54.36 and a 12-month high of $92.98. The company has a market cap of $25.20 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 1.19 and a beta of 1.61. The business has a 50-day simple moving average of $80.69 and a 200 day simple moving average of $80.01. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 2.30.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.07. Discover Financial Services had a return on equity of 27.05% and a net margin of 20.97%. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the business posted $2.05 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Research analysts anticipate that Discover Financial Services will post 9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Wednesday, November 20th. Discover Financial Services’s payout ratio is 22.59%.

In other news, Director Mary K. Bush sold 993 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $83.27, for a total value of $82,687.11. Following the transaction, the director now directly owns 52,075 shares in the company, valued at approximately $4,336,285.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Diane E. Offereins sold 20,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $91.76, for a total value of $1,835,200.00. Following the completion of the transaction, the executive vice president now owns 120,874 shares in the company, valued at $11,091,398.24. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in DFS. Raymond James Trust N.A. raised its holdings in shares of Discover Financial Services by 1.8% during the 3rd quarter. Raymond James Trust N.A. now owns 10,710 shares of the financial services provider’s stock valued at $869,000 after buying an additional 190 shares during the period. Foster & Motley Inc. raised its holdings in shares of Discover Financial Services by 1.4% during the 3rd quarter. Foster & Motley Inc. now owns 57,436 shares of the financial services provider’s stock valued at $4,657,000 after buying an additional 820 shares during the period. Rhumbline Advisers raised its holdings in shares of Discover Financial Services by 12.6% during the 3rd quarter. Rhumbline Advisers now owns 580,239 shares of the financial services provider’s stock valued at $47,052,000 after buying an additional 65,041 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Discover Financial Services by 63.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 3,797 shares of the financial services provider’s stock valued at $308,000 after buying an additional 1,480 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in shares of Discover Financial Services by 17.0% during the 3rd quarter. Golden State Wealth Management LLC now owns 1,205 shares of the financial services provider’s stock valued at $98,000 after buying an additional 175 shares during the period. Institutional investors own 85.00% of the company’s stock.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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