Discover Financial Services (NYSE:DFS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Group LLC in a research note issued on Thursday. They currently have a $75.00 price target on the financial services provider’s stock, down from their prior price target of $82.00. Jefferies Group LLC’s price target would suggest a potential upside of 24.09% from the company’s previous close.

Other equities analysts also recently issued reports about the company. William Blair reaffirmed an “outperform” rating on shares of Discover Financial Services in a research report on Tuesday, July 18th. Deutsche Bank AG downgraded Discover Financial Services from a “buy” rating to a “hold” rating and dropped their target price for the company from $87.00 to $71.00 in a research report on Monday, May 1st. Instinet reaffirmed a “buy” rating and issued a $81.00 target price (down from $86.00) on shares of Discover Financial Services in a research report on Wednesday, July 12th. Wells Fargo & Company downgraded Discover Financial Services to a “buy” rating and set a $70.00 target price for the company. in a research report on Friday, May 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Discover Financial Services in a research report on Friday, May 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. Discover Financial Services has an average rating of “Buy” and an average price target of $74.83.

Shares of Discover Financial Services (NYSE:DFS) traded down 4.26% on Thursday, reaching $60.44. 7,624,609 shares of the company’s stock traded hands. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33. The stock has a 50-day moving average price of $61.25 and a 200-day moving average price of $65.27. The company has a market cap of $22.98 billion, a PE ratio of 10.32 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by $0.05. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Discover Financial Services had a net margin of 22.08% and a return on equity of 21.86%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 earnings per share. Equities research analysts anticipate that Discover Financial Services will post $5.98 EPS for the current fiscal year.

Discover Financial Services declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $2.23 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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In related news, EVP Carlos Minetti sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $62.42, for a total value of $499,360.00. Following the completion of the transaction, the executive vice president now directly owns 205,149 shares of the company’s stock, valued at $12,805,400.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $62.18, for a total value of $1,865,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,674,732 shares of the company’s stock, valued at $104,134,835.76. The disclosure for this sale can be found here. Insiders sold 103,516 shares of company stock valued at $6,456,648 over the last ninety days. 0.96% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in DFS. Jaffetilchin Investment Partners LLC raised its stake in Discover Financial Services by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock worth $221,000 after buying an additional 24 shares in the last quarter. Court Place Advisors LLC raised its stake in Discover Financial Services by 0.7% in the first quarter. Court Place Advisors LLC now owns 5,831 shares of the financial services provider’s stock worth $399,000 after buying an additional 39 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Discover Financial Services by 1.1% in the first quarter. Quadrant Capital Group LLC now owns 4,296 shares of the financial services provider’s stock worth $287,000 after buying an additional 46 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after buying an additional 48 shares in the last quarter. Finally, Park National Corp OH raised its stake in Discover Financial Services by 0.9% in the first quarter. Park National Corp OH now owns 7,934 shares of the financial services provider’s stock worth $543,000 after buying an additional 70 shares in the last quarter. 84.13% of the stock is owned by hedge funds and other institutional investors.

Discover Financial Services Company Profile

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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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