Discover Financial Services (NYSE:DFS) Price Target Raised to $262.00

Discover Financial Services (NYSE:DFS) had its price objective increased by Truist Financial from $233.00 to $262.00 in a research note published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on the stock. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their price target for the company from $150.00 to $239.00 in a report on Monday, January 13th. Wells Fargo & Company increased their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Evercore ISI lifted their price objective on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada boosted their price target on Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services has a consensus rating of “Hold” and a consensus price target of $182.64.

Discover Financial Services Price Performance

Shares of Discover Financial Services stock opened at $201.13 on Monday. The firm has a fifty day moving average price of $179.90 and a two-hundred day moving average price of $155.83. Discover Financial Services has a fifty-two week low of $104.08 and a fifty-two week high of $204.93. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.10 and a quick ratio of 1.03. The company has a market cap of $50.55 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, beating the consensus estimate 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 expect that Discover Financial Services will post 12.82 EPS for the current year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio is currently 17.54%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DFS. AXA S.A. raised its position in shares of Discover Financial Services by 141.5% during the second quarter. AXA S.A. now owns 6,064 shares of the financial services provider’s stock worth $793,000 after acquiring an additional 3,553 shares during the last quarter. AQR Capital Management LLC increased its position in Discover Financial Services by 0.7% in the second quarter. AQR Capital Management LLC now owns 171,921 shares of the financial services provider’s stock worth $21,867,000 after purchasing an additional 1,165 shares during the period. Creative Planning raised its holdings in Discover Financial Services by 1.4% during the 2nd quarter. Creative Planning now owns 63,959 shares of the financial services provider’s stock worth $8,366,000 after purchasing an additional 906 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new position in Discover Financial Services during the 2nd quarter valued at about $4,835,000. Finally, Invst LLC boosted its stake in shares of Discover Financial Services by 5.1% in the 2nd quarter. Invst LLC now owns 7,191 shares of the financial services provider’s stock valued at $956,000 after purchasing an additional 350 shares during the last quarter. Institutional investors and hedge funds 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; 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.