Discover Financial Services (NYSE:DFS) Price Target Raised to $160.00

Discover Financial Services (NYSE:DFS) had its price objective boosted by Keefe, Bruyette & Woods from $145.00 to $160.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock. Keefe, Bruyette & Woods also issued estimates for Discover Financial Services’ Q3 2024 earnings at $3.46 EPS, Q4 2024 earnings at $2.53 EPS, Q3 2025 earnings at $3.44 EPS and Q4 2025 earnings at $2.86 EPS.

Several other equities analysts have also issued reports on DFS. StockNews.com started coverage on Discover Financial Services in a report on Sunday. They set a hold rating on the stock. Jefferies Financial Group lifted their price target on Discover Financial Services from $137.00 to $145.00 and gave the stock a buy rating in a research report on Friday, April 19th. HSBC increased their price objective on Discover Financial Services from $107.00 to $144.00 and gave the company a hold rating in a report on Thursday, March 21st. Barclays raised their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an equal weight rating in a research report on Friday, April 19th. Finally, BTIG Research initiated coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a neutral rating for the company. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Discover Financial Services has a consensus rating of Hold and a consensus target price of $129.78.

Check Out Our Latest Analysis on DFS

Discover Financial Services Price Performance

DFS stock opened at $129.20 on Monday. The business has a 50 day moving average price of $125.43 and a 200 day moving average price of $120.05. 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 stock has a market cap of $32.40 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.78 and a beta of 1.44. Discover Financial Services has a fifty-two week low of $79.04 and a fifty-two week high of $133.78.

Discover Financial Services (NYSE:DFSGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same quarter in the prior year, the firm posted $3.58 EPS. Equities research analysts anticipate that Discover Financial Services will post 11.47 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. Discover Financial Services’s dividend payout ratio is currently 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Institutional investors have recently made changes to their positions in the stock. Partnership Wealth Management LLC purchased a new position in shares of Discover Financial Services in the 4th quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in Discover Financial Services during the fourth quarter worth about $28,000. Riverview Trust Co purchased a new position in Discover Financial Services in the first quarter valued at about $34,000. New Covenant Trust Company N.A. acquired a new stake in shares of Discover Financial Services during the 1st quarter valued at approximately $34,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth approximately $31,000. 86.94% of the stock is currently owned by hedge funds and other institutional investors.

About Discover Financial Services

(Get Free Report)

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.

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Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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