Discover Financial Services (DFS) Sets New 52-Week High After Analyst Upgrade

Discover Financial Services (NYSE:DFS) hit a new 52-week high during mid-day trading on Monday after Nomura raised their price target on the stock from $81.00 to $86.00. Nomura currently has a buy rating on the stock. Discover Financial Services traded as high as $81.99 and last traded at $81.82, with a volume of 64997 shares. The stock had previously closed at $81.19.

Other equities research analysts also recently issued reports about the company. Oppenheimer set a $79.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Zacks Investment Research raised Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Wednesday, March 27th. Bank of America set a $80.00 target price on Discover Financial Services and gave the stock a “buy” rating in a research report on Friday, January 25th. Compass Point set a $74.00 target price on Discover Financial Services and gave the stock a “hold” rating in a research report on Friday, January 25th. Finally, Stephens reaffirmed a “hold” rating and issued a $80.00 target price on shares of Discover Financial Services in a research report on Sunday, January 6th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $81.40.

In related news, EVP Carlos Minetti sold 7,500 shares of the stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $67.59, for a total transaction of $506,925.00. Following the completion of the sale, the executive vice president now owns 131,598 shares in the company, valued at approximately $8,894,708.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kathryn Mcnamara Corley sold 4,762 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $68.39, for a total value of $325,673.18. Following the sale, the insider now owns 98,870 shares of the company’s stock, valued at approximately $6,761,719.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,062 shares of company stock valued at $8,124,691. 0.81% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Financial Gravity Companies Inc. bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $29,000. Cerebellum GP LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $30,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $30,000. Pinnacle Bank bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $32,000. Finally, Berman Capital Advisors LLC bought a new stake in shares of Discover Financial Services in the 4th quarter worth approximately $37,000. Institutional investors own 87.32% of the company’s stock.

The company has a debt-to-equity ratio of 2.58, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market capitalization of $26.66 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.18 and a beta of 1.60.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Thursday, April 25th. The financial services provider reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.13. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. Discover Financial Services had a return on equity of 26.50% and a net margin of 20.98%. Discover Financial Services’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. Equities analysts forecast that Discover Financial Services will post 8.66 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. Discover Financial Services’s dividend payout ratio is 20.54%.

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About Discover Financial Services (NYSE:DFS)

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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