Discover Financial Services (NYSE:DFS) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Investors of record on Thursday, February 20th will be given a dividend of 0.70 per share by the financial services provider on Thursday, March 6th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Thursday, February 20th.
Discover Financial Services has raised its dividend by an average of 14.2% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Discover Financial Services has a dividend payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Discover Financial Services to earn $15.61 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 17.9%.
Discover Financial Services Stock Up 3.2 %
DFS opened at $196.14 on Tuesday. The firm has a market capitalization of $49.29 billion, a P/E ratio of 12.29, a PEG ratio of 0.63 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a fifty-two week low of $109.50 and a fifty-two week high of $205.76. The company’s 50-day moving average is $184.70 and its 200 day moving average is $160.98.
Wall Street Analysts Forecast Growth
DFS has been the topic of several research reports. Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. 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 research report on Monday, January 13th. Finally, Truist Financial boosted their price target on shares of Discover Financial Services from $233.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $186.46.
Check Out Our Latest Stock Analysis on Discover Financial Services
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.
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