Weekly Research Analysts’ Ratings Changes for Discover Financial Services (DFS)

Posted by Maddie Sorensen on Oct 21st, 2024

A number of firms have modified their ratings and price targets on shares of Discover Financial Services (NYSE: DFS) recently:

10/19/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
10/18/2024 – Discover Financial Services had its price target raised by analysts at Royal Bank of Canada from $148.00 to $161.00. They now have a “sector perform” rating on the stock.
10/18/2024 – Discover Financial Services had its price target raised by analysts at Wells Fargo & Company from $152.00 to $160.00. They now have an “equal weight” rating on the stock.
10/11/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
10/7/2024 – Discover Financial Services had its price target raised by analysts at Evercore ISI from $140.00 to $156.00. They now have an “in-line” rating on the stock.
10/3/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
9/25/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
9/17/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
9/9/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
9/1/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
8/24/2024 – Discover Financial Services is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

Discover Financial Services Stock Down 2.1 %

NYSE DFS traded down $3.09 on Monday, reaching $145.59. The company had a trading volume of 573,618 shares, compared to its average volume of 1,622,272. The firm has a market capitalization of $36.51 billion, a PE ratio of 16.60, a P/E/G ratio of 0.94 and a beta of 1.41. The firm has a 50-day moving average of $137.08 and a 200-day moving average of $131.08. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $152.90. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04.

Discover Financial Services (NYSE:DFS – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the business earned $2.59 EPS. On average, equities research analysts anticipate that Discover Financial Services will post 13.15 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is currently 31.93%.

Institutional Trading of Discover Financial Services

A number of hedge funds have recently made changes to their positions in DFS. LB Partners LLC boosted its stake in Discover Financial Services by 27.5% during the 3rd quarter. LB Partners LLC now owns 46,350 shares of the financial services provider’s stock valued at $6,502,000 after acquiring an additional 10,000 shares during the last quarter. Vest Financial LLC lifted its position in shares of Discover Financial Services by 9.8% during the third quarter. Vest Financial LLC now owns 189,963 shares of the financial services provider’s stock worth $26,650,000 after purchasing an additional 16,982 shares during the last quarter. OLD National Bancorp IN lifted its position in shares of Discover Financial Services by 74.3% during the third quarter. OLD National Bancorp IN now owns 5,007 shares of the financial services provider’s stock worth $703,000 after purchasing an additional 2,135 shares during the last quarter. New Century Financial Group LLC grew its stake in Discover Financial Services by 7.4% in the third quarter. New Century Financial Group LLC now owns 4,025 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 279 shares in the last quarter. Finally, Raymond James & Associates raised its stake in Discover Financial Services by 12.7% during the third quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider’s stock valued at $20,954,000 after buying an additional 16,863 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

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; 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.