Discover Financial Services (NYSE:DFS) Stock Price Up 5% – What’s Next?

Discover Financial Services (NYSE:DFS)’s stock price rose 5% during mid-day trading on Monday . The company traded as high as $167.39 and last traded at $166.67. Approximately 487,689 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,502,135 shares. The stock had previously closed at $158.73.

Wall Street Analysts Forecast Growth

DFS has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on 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. Truist Financial lowered their target price on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada boosted their target price on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $192.40.

Discover Financial Services Trading Up 7.2 %

The business has a 50 day moving average of $184.39 and a 200 day moving average of $170.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The firm has a market capitalization of $42.82 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.51 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results 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 26.18% and a net margin of 17.29%. As a group, research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 17.54%.

Institutional Investors Weigh In On Discover Financial Services

Several institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Discover Financial Services in the fourth quarter valued at about $33,000. Mattson Financial Services LLC acquired a new position in Discover Financial Services during the 4th quarter worth approximately $34,000. Flagship Wealth Advisors LLC bought a new position in shares of Discover Financial Services during the 4th quarter worth approximately $34,000. Bfsg LLC bought a new position in shares of Discover Financial Services during the 4th quarter worth approximately $35,000. Finally, Grove Bank & Trust raised its holdings in shares of Discover Financial Services by 78.1% in the fourth quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares during the last quarter. 86.94% of the stock is owned by institutional investors.

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.