Discover Financial Services (NYSE:DFS) Price Target Increased to $135.00 by Analysts at JPMorgan Chase & Co.

Discover Financial Services (NYSE:DFS) had its price target upped by JPMorgan Chase & Co. from $132.00 to $135.00 in a research report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company raised their price target on Discover Financial Services from $105.00 to $135.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. Barclays lifted their target price on shares of Discover Financial Services from $123.00 to $135.00 and gave the stock an equal weight rating in a research note on Tuesday, July 9th. Jefferies Financial Group increased their price target on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a buy rating in a research report on Tuesday, July 9th. HSBC boosted their price objective on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a hold rating in a research report on Thursday, March 21st. Finally, BMO Capital Markets increased their target price on shares of Discover Financial Services from $115.00 to $119.00 and gave the stock a market perform rating in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Discover Financial Services has an average rating of Hold and an average target price of $131.33.

Discover Financial Services Trading Down 1.4 %

Shares of DFS opened at $139.76 on Friday. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $147.61. The company has a market capitalization of $35.05 billion, a P/E ratio of 15.94, a P/E/G ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.07 and a quick ratio of 1.12. The firm’s 50 day simple moving average is $127.71 and its 200 day simple moving average is $121.61.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $3.00. The firm had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Discover Financial Services had a return on equity of 20.53% and a net margin of 12.88%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.54 EPS. Sell-side analysts forecast that Discover Financial Services will post 11.77 earnings per share for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, August 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.00%. Discover Financial Services’s dividend payout ratio (DPR) is presently 31.93%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DFS. Partnership Wealth Management LLC acquired a new stake in shares of Discover Financial Services during the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services during the second quarter worth approximately $26,000. Bruce G. Allen Investments LLC acquired a new stake in Discover Financial Services in the fourth quarter valued at approximately $28,000. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Discover Financial Services in the fourth quarter valued at approximately $31,000. Finally, Riverview Trust Co acquired a new position in shares of Discover Financial Services during the 1st quarter worth approximately $34,000. 86.94% of the stock is currently owned by hedge funds and other 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; private student loans, 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.