Discover Financial Services (NYSE:DFS) Price Target Raised to $209.00 at Barclays

Discover Financial Services (NYSE:DFS) had its target price hoisted by analysts at Barclays from $186.00 to $209.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 4.04% from the company’s current price.

Several other research firms have also recently commented on DFS. Keefe, Bruyette & Woods boosted their price target on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Truist Financial assumed coverage on shares of Discover Financial Services in a report on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price target on the stock. UBS Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on shares of Discover Financial Services from $150.00 to $146.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $175.43.

Discover Financial Services Stock Performance

NYSE:DFS opened at $200.89 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.10 and a debt-to-equity ratio of 1.09. Discover Financial Services has a fifty-two week low of $99.79 and a fifty-two week high of $204.93. The firm’s fifty day simple moving average is $177.76 and its 200-day simple moving average is $153.68. The stock has a market cap of $50.48 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 27.52%. Analysts expect that Discover Financial Services will post 12.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Discover Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Discover Financial Services by 8.0% during the third quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after purchasing an additional 558,227 shares in the last quarter. Mizuho Securities USA LLC boosted its position in Discover Financial Services by 1,272.0% in the third quarter. Mizuho Securities USA LLC now owns 265,155 shares of the financial services provider’s stock valued at $37,199,000 after buying an additional 245,829 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Discover Financial Services during the third quarter worth about $21,169,000. KBC Group NV raised its stake in shares of Discover Financial Services by 19.0% in the fourth quarter. KBC Group NV now owns 924,033 shares of the financial services provider’s stock valued at $160,070,000 after acquiring an additional 147,558 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Discover Financial Services by 23.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 619,818 shares of the financial services provider’s stock valued at $81,078,000 after buying an additional 116,412 shares during the last quarter. 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.