Discover Financial Services (NYSE:DFS) Stock Price Down 5.2%

Shares of Discover Financial Services (NYSE:DFS) dropped 5.2% during trading on Tuesday . The company traded as low as $125.82 and last traded at $126.44. Approximately 176,330 shares were traded during trading, a decline of 90% from the average daily volume of 1,687,667 shares. The stock had previously closed at $133.33.

Analysts Set New Price Targets

A number of research analysts have weighed in on DFS shares. StockNews.com started coverage on shares of Discover Financial Services in a research note on Monday. They issued a “hold” rating on the stock. BTIG Research started coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. raised their target price on Discover Financial Services from $132.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, BMO Capital Markets upped their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $132.94.

Discover Financial Services Stock Performance

The company has a debt-to-equity ratio of 1.28, a current ratio of 1.12 and a quick ratio of 1.04. The stock has a market capitalization of $32.14 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 0.86 and a beta of 1.42. The company has a 50 day simple moving average of $134.06 and a 200-day simple moving average of $127.83.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 EPS for the quarter, beating the consensus estimate of $3.06 by $3.00. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.18 billion. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.54 earnings per share. On average, equities analysts forecast that Discover Financial Services will post 12.87 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were paid a $0.70 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.80 dividend on an annualized basis and a yield of 2.19%. Discover Financial Services’s dividend payout ratio is 31.93%.

Institutional Investors Weigh In On Discover Financial Services

Several institutional investors have recently made changes to their positions in DFS. Sanctuary Advisors LLC bought a new position in shares of Discover Financial Services in the second quarter valued at approximately $4,966,000. New Century Financial Group LLC boosted its holdings in Discover Financial Services by 143.6% in the 2nd quarter. New Century Financial Group LLC now owns 3,746 shares of the financial services provider’s stock valued at $490,000 after purchasing an additional 2,208 shares during the period. Cetera Investment Advisers grew its position in shares of Discover Financial Services by 0.8% during the 2nd quarter. Cetera Investment Advisers now owns 69,539 shares of the financial services provider’s stock valued at $9,097,000 after purchasing an additional 549 shares in the last quarter. 3Chopt Investment Partners LLC bought a new position in shares of Discover Financial Services in the second quarter worth $476,000. Finally, EP Wealth Advisors LLC raised its position in shares of Discover Financial Services by 3.6% in the second quarter. EP Wealth Advisors LLC now owns 5,510 shares of the financial services provider’s stock worth $721,000 after buying an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company’s stock.

Discover Financial Services Company Profile

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.