Discover Financial Services (NYSE:DFS) Given New $122.00 Price Target at Piper Sandler

Discover Financial Services (NYSE:DFS) had its price objective boosted by investment analysts at Piper Sandler from $111.00 to $122.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential downside of 0.15% from the company’s current price.

DFS has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, April 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $105.00 target price on shares of Discover Financial Services in a report on Monday, April 26th. Bank of America upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Monday, April 26th. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “strong-buy” rating and set a $122.00 price target for the company in a research note on Tuesday, April 27th. Finally, Barclays increased their price target on shares of Discover Financial Services from $111.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, April 23rd. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.31.

NYSE DFS opened at $122.18 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.89. The company’s 50-day simple moving average is $111.33. The stock has a market capitalization of $37.25 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.17 and a beta of 1.84. Discover Financial Services has a 12-month low of $45.40 and a 12-month high of $125.38.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Tuesday, April 20th. The financial services provider reported $5.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.82 by $2.22. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.79 billion. Discover Financial Services had a net margin of 22.20% and a return on equity of 28.88%. Discover Financial Services’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.25) earnings per share. Equities analysts expect that Discover Financial Services will post 13.41 earnings per share for the current year.

In other Discover Financial Services news, EVP Diane E. Offereins sold 15,000 shares of the stock in a transaction on Friday, April 30th. The stock was sold at an average price of $114.02, for a total transaction of $1,710,300.00. Following the sale, the executive vice president now directly owns 113,915 shares in the company, valued at approximately $12,988,588.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel Peter Capozzi sold 9,970 shares of Discover Financial Services stock in a transaction on Monday, April 26th. The stock was sold at an average price of $106.30, for a total value of $1,059,811.00. Following the completion of the sale, the executive vice president now directly owns 27,042 shares of the company’s stock, valued at approximately $2,874,564.60. The disclosure for this sale can be found here. Insiders have sold 28,794 shares of company stock valued at $3,213,580 in the last ninety days. Insiders own 0.54% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in DFS. Winslow Evans & Crocker Inc. boosted its position in shares of Discover Financial Services by 291.4% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 638 shares of the financial services provider’s stock valued at $58,000 after buying an additional 475 shares during the last quarter. First Interstate Bank purchased a new stake in shares of Discover Financial Services during the fourth quarter valued at $304,000. Daiwa Securities Group Inc. boosted its position in shares of Discover Financial Services by 16.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,555 shares of the financial services provider’s stock valued at $1,680,000 after buying an additional 2,606 shares during the last quarter. Maryland State Retirement & Pension System purchased a new stake in shares of Discover Financial Services during the fourth quarter valued at $414,000. Finally, Boston Partners boosted its position in shares of Discover Financial Services by 0.8% during the fourth quarter. Boston Partners now owns 3,328,492 shares of the financial services provider’s stock valued at $301,328,000 after buying an additional 25,749 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company 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; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.

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