Wells Fargo & Co Reaffirms Market Perform Rating for Discover Financial Services (DFS)

Discover Financial Services (NYSE:DFS)‘s stock had its “market perform” rating reissued by research analysts at Wells Fargo & Co in a report released on Tuesday, The Fly reports. They presently have a $83.00 price target on the financial services provider’s stock, up from their previous price target of $69.00. Wells Fargo & Co’s price objective points to a potential upside of 3.29% from the company’s previous close.

A number of other brokerages have also weighed in on DFS. Stephens set a $73.00 target price on shares of Discover Financial Services and gave the stock a “sell” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Tuesday, January 2nd. Deutsche Bank began coverage on shares of Discover Financial Services in a research report on Tuesday, January 2nd. They set a “buy” rating and a $92.00 target price for the company. Bank of America upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Monday, December 18th. Finally, Barclays upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $73.00 to $93.00 in a research report on Monday, December 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the stock. Discover Financial Services currently has an average rating of “Buy” and an average price target of $80.67.

Shares of Discover Financial Services (NYSE DFS) traded up $0.89 during trading hours on Tuesday, hitting $80.36. 1,878,078 shares of the company were exchanged, compared to its average volume of 2,148,860. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a 12-month low of $57.50 and a 12-month high of $80.38. The company has a market capitalization of $28,890.00, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.80 and a beta of 1.52.

In related news, CFO R. Mark Graf sold 16,503 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $66.67, for a total value of $1,100,255.01. Following the transaction, the chief financial officer now owns 82,402 shares of the company’s stock, valued at approximately $5,493,741.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $76.81, for a total transaction of $307,240.00. Following the completion of the transaction, the executive vice president now directly owns 134,744 shares in the company, valued at approximately $10,349,686.64. The disclosure for this sale can be found here. In the last three months, insiders sold 179,277 shares of company stock worth $12,673,925. Insiders own 0.96% of the company’s stock.

A number of hedge funds have recently bought and sold shares of DFS. Diamond Hill Capital Management Inc. increased its stake in Discover Financial Services by 97.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock worth $453,619,000 after buying an additional 3,475,126 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in Discover Financial Services in the 2nd quarter worth about $199,350,000. Arrowstreet Capital Limited Partnership increased its stake in Discover Financial Services by 320.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,672,385 shares of the financial services provider’s stock worth $166,196,000 after buying an additional 2,037,515 shares during the period. Capital World Investors increased its stake in Discover Financial Services by 18.3% in the 2nd quarter. Capital World Investors now owns 10,578,342 shares of the financial services provider’s stock worth $657,867,000 after buying an additional 1,638,334 shares during the period. Finally, FMR LLC increased its stake in Discover Financial Services by 17.4% in the 2nd quarter. FMR LLC now owns 10,374,397 shares of the financial services provider’s stock worth $645,184,000 after buying an additional 1,534,882 shares during the period. 84.77% of the stock is currently owned by institutional investors.

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About Discover Financial Services

Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

The Fly

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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