Keefe, Bruyette & Woods Increases Discover Financial Services (NYSE:DFS) Price Target to $160.00

Discover Financial Services (NYSE:DFS) had its price target hoisted by equities researchers at Keefe, Bruyette & Woods from $145.00 to $160.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 23.08% from the company’s current price.

A number of other equities research analysts have also commented on DFS. Seaport Res Ptn lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Friday, March 15th. BTIG Research initiated coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their price objective on shares of 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. StockNews.com initiated coverage on shares of Discover Financial Services in a research report on Sunday. They set a “hold” rating on the stock. Finally, Barclays upped their target price on Discover Financial Services from $120.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Discover Financial Services has an average rating of “Hold” and an average target price of $129.78.

Discover Financial Services Trading Up 0.9 %

NYSE:DFS opened at $130.00 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.12 and a quick ratio of 1.12. Discover Financial Services has a one year low of $79.04 and a one year high of $133.78. The company has a market cap of $32.60 billion, a PE ratio of 14.82, a PEG ratio of 0.78 and a beta of 1.44. The firm has a 50-day moving average of $125.32 and a 200-day moving average of $119.98.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.07 billion. Discover Financial Services had a return on equity of 17.07% and a net margin of 10.56%. During the same period in the prior year, the firm posted $3.58 earnings per share. As a group, equities research analysts expect that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Discover Financial Services during the fourth quarter worth $322,199,000. Truist Financial Corp raised its stake in shares of Discover Financial Services by 239.6% during the 4th quarter. Truist Financial Corp now owns 2,027,686 shares of the financial services provider’s stock valued at $227,912,000 after purchasing an additional 1,430,637 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Discover Financial Services during the 4th quarter worth about $121,113,000. Envestnet Asset Management Inc. boosted its stake in Discover Financial Services by 60.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,122,824 shares of the financial services provider’s stock worth $238,605,000 after purchasing an additional 803,738 shares during the period. Finally, Canoe Financial LP purchased a new position in Discover Financial Services during the 4th quarter valued at about $72,265,000. 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; 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.