Discover Financial Services (NYSE:DFS) had its target price lowered by research analysts at Morgan Stanley from $71.00 to $70.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 21.40% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Jefferies Group LLC restated a “buy” rating and issued a $75.00 price objective (down from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. BidaskClub lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Barclays PLC restated an “equal weight” rating and issued a $70.00 price objective (down from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. Finally, Wells Fargo & Company lowered shares of Discover Financial Services to a “buy” rating and set a $70.00 price objective on the stock. in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $73.95.

Shares of Discover Financial Services (NYSE DFS) traded down 0.74% during midday trading on Friday, hitting $57.66. The company had a trading volume of 1,966,894 shares. The company has a 50-day moving average of $60.38 and a 200 day moving average of $63.19. The firm has a market capitalization of $21.47 billion, a PE ratio of 9.95 and a beta of 1.45. Discover Financial Services has a 12 month low of $53.91 and a 12 month high of $74.33.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.05. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts expect that Discover Financial Services will post $5.92 EPS for the current fiscal year.

Discover Financial Services announced that its board has initiated a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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In other news, COO Roger C. Hochschild sold 15,258 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $59.64, for a total transaction of $909,987.12. Following the completion of the sale, the chief operating officer now owns 799,741 shares in the company, valued at approximately $47,696,553.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $59.63, for a total transaction of $238,520.00. Following the sale, the executive vice president now owns 150,744 shares of the company’s stock, valued at approximately $8,988,864.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,002 shares of company stock valued at $9,580,337. 0.96% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Wealth Management LLC acquired a new stake in shares of Discover Financial Services during the 2nd quarter worth about $101,000. FNY Managed Accounts LLC bought a new position in Discover Financial Services during the first quarter worth about $124,000. Orrstown Financial Services Inc. increased its position in Discover Financial Services by 16.7% during the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 286 shares during the period. Perigon Wealth Management LLC increased its position in Discover Financial Services by 2.3% during the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 48 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in Discover Financial Services during the second quarter worth about $168,000. Institutional investors own 86.21% of the company’s stock.

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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