Discover Financial Services (NYSE:DFS) PT Raised to $148.00 at Royal Bank of Canada

Discover Financial Services (NYSE:DFS) had its price target boosted by Royal Bank of Canada from $140.00 to $148.00 in a research report released on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Discover Financial Services from $132.00 to $135.00 and gave the stock a neutral rating in a report on Friday. Wells Fargo & Company boosted their price objective on shares of Discover Financial Services from $105.00 to $135.00 and gave the stock an equal weight rating in a report on Wednesday, April 10th. Jefferies Financial Group boosted their price objective on shares of Discover Financial Services from $145.00 to $150.00 and gave the stock a buy rating in a report on Tuesday, July 9th. HSBC boosted their price objective on shares of Discover Financial Services from $107.00 to $144.00 and gave the stock a hold rating in a report on Thursday, March 21st. Finally, Barclays lifted their target price on shares of Discover Financial Services from $123.00 to $135.00 and gave the stock an equal weight rating in a research note on Tuesday, July 9th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $131.33.

Discover Financial Services Trading Down 1.4 %

Shares of Discover Financial Services stock opened at $139.76 on Friday. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $147.61. The firm has a market cap of $35.05 billion, a PE ratio of 15.94, a PEG ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.07 and a quick ratio of 1.12. The company has a 50 day simple moving average of $127.71 and a two-hundred day simple moving average of $121.61.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.53%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.54 EPS. Analysts expect that Discover Financial Services will post 11.77 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, August 22nd. Discover Financial Services’s payout ratio is currently 31.93%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Partnership Wealth Management LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth about $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the 2nd quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth about $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter worth about $31,000. Finally, Riverview Trust Co purchased a new stake in shares of Discover Financial Services in the 1st quarter worth about $34,000. 86.94% of the stock is owned by hedge funds and other institutional investors.

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.