JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Discover Financial Services (NYSE:DFS) Stock

Discover Financial Services (NYSE:DFS) had its price objective upped by analysts at JPMorgan Chase & Co. from $146.00 to $169.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 16.57% from the stock’s current price.

Several other equities research analysts also recently commented on DFS. StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial began coverage on Discover Financial Services in a report on Tuesday, January 7th. They set a “buy” rating and a $233.00 price objective for the company. Wells Fargo & Company raised their target price on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada upped their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Finally, Barclays increased their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the company an “overweight” rating in a report on Friday. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $177.07.

Discover Financial Services Stock Up 0.8 %

Shares of DFS stock traded up $1.60 on Friday, reaching $202.56. 427,299 shares of the company were exchanged, compared to its average volume of 1,496,616. Discover Financial Services has a one year low of $101.71 and a one year high of $204.93. The company has a market cap of $50.90 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.15 and a beta of 1.46. The company has a 50-day moving average of $178.30 and a 200-day moving average of $154.01. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. Analysts anticipate that Discover Financial Services will post 12.82 earnings per share for the current year.

Hedge Funds Weigh In On Discover Financial Services

A number of large investors have recently made changes to their positions in the stock. National Pension Service boosted its holdings in Discover Financial Services by 14.8% during the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock valued at $61,693,000 after acquiring an additional 56,814 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Discover Financial Services by 10.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 115,487 shares of the financial services provider’s stock valued at $16,202,000 after purchasing an additional 10,946 shares during the period. William B. Walkup & Associates Inc. bought a new stake in shares of Discover Financial Services during the second quarter valued at approximately $4,835,000. Meyer Handelman Co. purchased a new stake in Discover Financial Services in the fourth quarter worth $239,000. Finally, Janney Montgomery Scott LLC bought a new position in Discover Financial Services in the third quarter worth $2,415,000. 86.94% of the stock is owned by 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; 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.