StockNews.com Begins Coverage on Discover Financial Services (NYSE:DFS)

StockNews.com assumed coverage on shares of Discover Financial Services (NYSE:DFS) in a report issued on Thursday. The firm issued a hold rating on the financial services provider’s stock.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada lifted their price objective on Discover Financial Services from $140.00 to $148.00 and gave the stock a sector perform rating in a research report on Friday, July 19th. BTIG Research assumed coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They set a neutral rating for the company. Jefferies Financial Group boosted their target price on shares of Discover Financial Services from $145.00 to $150.00 and gave the company a buy rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their price target on shares of Discover Financial Services from $145.00 to $160.00 and gave the company an outperform rating in a research note on Monday, July 8th. Finally, BMO Capital Markets lifted their price target on shares of Discover Financial Services from $115.00 to $119.00 and gave the company a market perform rating in a research report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $132.94.

Discover Financial Services Trading Up 6.2 %

Shares of DFS opened at $144.89 on Thursday. The firm’s fifty day moving average is $134.32 and its two-hundred day moving average is $129.78. The stock has a market cap of $36.34 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 0.94 and a beta of 1.41. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 52-week low of $79.04 and a 52-week high of $147.61.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the company earned $3.54 EPS. Discover Financial Services’s revenue was up 17.0% compared to the same quarter last year. Research analysts forecast that Discover Financial Services will post 12.88 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services’s dividend payout ratio is presently 31.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new position in Discover Financial Services in the 2nd quarter valued at $26,000. Y.D. More Investments Ltd boosted its holdings in shares of Discover Financial Services by 147.8% in the second quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 133 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Discover Financial Services by 72.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 95 shares during the period. Larson Financial Group LLC raised its holdings in Discover Financial Services by 348.2% during the second quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Riverview Trust Co acquired a new stake in Discover Financial Services in the first quarter valued at about $34,000. 86.94% of the stock is currently owned by hedge funds and other 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.