JPMorgan Chase & Co. Raises Discover Financial Services (NYSE:DFS) Price Target to $169.00

Discover Financial Services (NYSE:DFS) had its price objective upped by JPMorgan Chase & Co. from $146.00 to $169.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday. Evercore ISI boosted their price target on shares of Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday. Truist Financial began coverage on Discover Financial Services in a report on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price objective for the company. Finally, UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $180.57.

Discover Financial Services Trading Up 0.3 %

Shares of Discover Financial Services stock opened at $201.59 on Friday. Discover Financial Services has a 52-week low of $101.71 and a 52-week high of $204.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. The firm has a 50-day moving average of $178.30 and a 200-day moving average of $154.01. The stock has a market cap of $50.66 billion, a PE ratio of 12.63, a PEG ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. As a group, sell-side analysts forecast that Discover Financial Services will post 12.82 EPS for the current year.

Discover Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is 17.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DFS. Flavin Financial Services Inc. bought a new position in Discover Financial Services in the fourth quarter worth approximately $937,000. Calamos Wealth Management LLC bought a new position in shares of Discover Financial Services during the 4th quarter worth $250,000. Patron Partners LLC increased its stake in shares of Discover Financial Services by 4.7% during the fourth quarter. Patron Partners LLC now owns 4,500 shares of the financial services provider’s stock valued at $779,000 after buying an additional 201 shares during the period. Trust Point Inc. purchased a new position in shares of Discover Financial Services during the fourth quarter valued at $220,000. Finally, Catalina Capital Group LLC bought a new stake in shares of Discover Financial Services in the fourth quarter valued at about $201,000. 86.94% of the stock is currently 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.