Evercore ISI Issues Positive Forecast for Discover Financial Services (NYSE:DFS) Stock Price

Discover Financial Services (NYSE:DFS) had its price target boosted by Evercore ISI from $156.00 to $163.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an in-line rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on Discover Financial Services from $132.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods upped their price target on Discover Financial Services from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. BMO Capital Markets upped their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Wells Fargo & Company upped their price target on Discover Financial Services from $152.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada upped their price target on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $138.81.

Discover Financial Services Stock Performance

NYSE DFS opened at $151.30 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $140.58 and its two-hundred day moving average is $132.80. Discover Financial Services has a 12-month low of $82.15 and a 12-month high of $157.06. The stock has a market capitalization of $37.99 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.00 and a beta of 1.41.

Discover Financial Services (NYSE:DFS) last released its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.41. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the firm posted $2.59 EPS. Research analysts expect that Discover Financial Services will post 13.28 EPS for the current year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, November 21st. Discover Financial Services’s dividend payout ratio is presently 22.60%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Axxcess Wealth Management LLC lifted its stake in shares of Discover Financial Services by 135.1% during the 1st quarter. Axxcess Wealth Management LLC now owns 7,793 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 4,478 shares during the period. Gabelli Funds LLC purchased a new position in shares of Discover Financial Services during the 1st quarter worth $983,000. William B. Walkup & Associates Inc. purchased a new position in shares of Discover Financial Services in the 2nd quarter worth $4,835,000. Janus Henderson Group PLC raised its position in shares of Discover Financial Services by 61.0% in the 1st quarter. Janus Henderson Group PLC now owns 62,529 shares of the financial services provider’s stock worth $8,197,000 after buying an additional 23,702 shares during the period. Finally, Forge First Asset Management Inc. purchased a new position in shares of Discover Financial Services in the 1st quarter worth $13,341,000. Hedge funds and other institutional investors own 86.94% of the company’s stock.

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; 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.