Wells Fargo & Company Increases Discover Financial Services (NYSE:DFS) Price Target to $160.00

Discover Financial Services (NYSE:DFS) had its price target lifted by Wells Fargo & Company from $152.00 to $160.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts have also commented on the stock. StockNews.com began coverage on shares of Discover Financial Services in a report on Friday, October 11th. They issued a “hold” rating on the stock. Royal Bank of Canada increased their price target on Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday. Keefe, Bruyette & Woods raised their price objective on Discover Financial Services from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Evercore ISI upped their target price on Discover Financial Services from $140.00 to $156.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets raised their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Discover Financial Services presently has an average rating of “Hold” and a consensus price target of $136.12.

Discover Financial Services Stock Performance

Shares of NYSE:DFS opened at $146.55 on Friday. The business’s 50-day simple moving average is $137.53 and its 200 day simple moving average is $131.23. The company has a market cap of $36.75 billion, a P/E ratio of 16.71, a PEG ratio of 0.94 and a beta of 1.41. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.12. Discover Financial Services has a one year low of $79.04 and a one year high of $152.90.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.41. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the company earned $2.59 earnings per share. On average, sell-side analysts forecast that Discover Financial Services will post 13.15 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Thursday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC lifted its stake in Discover Financial Services by 135.1% in the first quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 4,478 shares during the last quarter. Gabelli Funds LLC acquired a new stake in shares of Discover Financial Services in the 1st quarter worth about $983,000. William B. Walkup & Associates Inc. bought a new stake in Discover Financial Services in the 2nd quarter valued at about $4,835,000. Janus Henderson Group PLC boosted its stake in Discover Financial Services by 61.0% during the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock valued at $8,197,000 after purchasing an additional 23,702 shares during the period. Finally, Forge First Asset Management Inc. acquired a new position in Discover Financial Services during the 1st quarter valued at about $13,341,000. 86.94% of the stock is currently 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.