Discover Financial Services (NYSE:DFS) Price Target Raised to $140.00 at Deutsche Bank Aktiengesellschaft

Discover Financial Services (NYSE:DFS) had its target price raised by Deutsche Bank Aktiengesellschaft from $134.00 to $140.00 in a report released on Tuesday morning, The Fly reports.

Several other research analysts also recently commented on DFS. Seaport Res Ptn raised shares of Discover Financial Services from a neutral rating to a buy rating in a research note on Tuesday, November 2nd. Stephens lifted their target price on shares of Discover Financial Services from $118.00 to $137.00 and gave the stock an equal weight rating in a research note on Friday, October 22nd. Piper Sandler lifted their target price on shares of Discover Financial Services from $117.00 to $122.00 and gave the stock a neutral rating in a research note on Monday, October 25th. Wells Fargo & Company boosted their price objective on shares of Discover Financial Services from $125.00 to $135.00 and gave the company an equal weight rating in a research report on Friday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of Discover Financial Services from $139.00 to $146.00 and gave the company an equal weight rating in a research report on Monday, December 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Discover Financial Services currently has a consensus rating of Buy and a consensus price target of $134.61.

Shares of DFS opened at $127.54 on Tuesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.24 and a current ratio of 1.24. Discover Financial Services has a fifty-two week low of $81.27 and a fifty-two week high of $135.69. The firm has a 50 day moving average price of $117.01 and a 200-day moving average price of $121.93. The firm has a market cap of $37.38 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 0.17 and a beta of 1.70.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, October 19th. The financial services provider reported $3.54 EPS for the quarter, topping the consensus estimate of $3.53 by $0.01. Discover Financial Services had a net margin of 39.15% and a return on equity of 45.80%. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm earned $2.45 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Discover Financial Services will post 17.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 9th. Stockholders of record on Wednesday, November 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Tuesday, November 23rd. Discover Financial Services’s dividend payout ratio is presently 11.96%.

In related news, EVP Carlos Minetti sold 22,000 shares of the company’s stock in a transaction dated Monday, October 25th. The shares were sold at an average price of $123.68, for a total value of $2,720,960.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cynthia A. Glassman sold 3,200 shares of the company’s stock in a transaction dated Tuesday, October 26th. The stock was sold at an average price of $123.93, for a total transaction of $396,576.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in DFS. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Discover Financial Services by 13.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 56,792 shares of the financial services provider’s stock worth $6,718,000 after purchasing an additional 6,529 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Discover Financial Services by 221.9% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 2,411 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 1,662 shares during the period. Aigen Investment Management LP bought a new position in Discover Financial Services during the 2nd quarter valued at about $349,000. Mid Atlantic Financial Management Inc. ADV bought a new position in Discover Financial Services during the 2nd quarter valued at about $267,000. Finally, Empirical Finance LLC lifted its stake in Discover Financial Services by 15.8% during the 2nd quarter. Empirical Finance LLC now owns 3,736 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 509 shares during the period. Institutional investors own 84.22% of the company’s stock.

Discover Financial Services Company Profile

Discover Financial Services is a holding company, which engages in the provision of direct banking and payment services. It operates through the Direct Banking and Payment Services segments. The Direct Banking segment offers Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending and deposit products.

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