Discover Financial Services (NYSE:DFS) had its price objective upped by stock analysts at JMP Securities to $91.00 in a research note issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the financial services provider’s stock. JMP Securities’ price objective suggests a potential upside of 13.71% from the company’s previous close.
A number of other equities research analysts have also issued reports on DFS. Buckingham Research began coverage on Discover Financial Services in a research report on Monday, October 2nd. They issued a “buy” rating and a $74.00 target price on the stock. Wells Fargo & Co began coverage on Discover Financial Services in a research report on Tuesday, October 10th. They issued a “market perform” rating and a $69.00 target price on the stock. Zacks Investment Research lowered Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Oppenheimer set a $71.00 target price on Discover Financial Services and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Compass Point lowered Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Discover Financial Services presently has an average rating of “Buy” and a consensus target price of $83.78.
Discover Financial Services (NYSE DFS) traded up $1.29 during midday trading on Thursday, hitting $80.03. The stock had a trading volume of 1,551,791 shares, compared to its average volume of 2,352,144. The firm has a market capitalization of $29,050.00, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.28 and a beta of 1.52. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $81.23.
In related news, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.68, for a total value of $533,440.00. Following the completion of the sale, the executive vice president now directly owns 173,149 shares in the company, valued at approximately $11,545,575.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R. Mark Graf sold 16,503 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 82,402 shares of the company’s stock, valued at $5,493,741.34. The disclosure for this sale can be found here. Insiders have sold a total of 179,277 shares of company stock valued at $12,673,925 over the last quarter. 0.96% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DFS. Grove Bank & Trust raised its holdings in Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,490 shares in the last quarter. Rational Advisors LLC acquired a new position in Discover Financial Services in the 3rd quarter valued at $123,000. Americafirst Capital Management LLC acquired a new position in shares of Discover Financial Services during the 3rd quarter worth $140,000. Capstone Investment Advisors Netherlands B.V. acquired a new position in shares of Discover Financial Services during the 2nd quarter worth $157,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in shares of Discover Financial Services during the 2nd quarter worth $170,000. Institutional investors and hedge funds own 84.72% of the company’s stock.
WARNING: This piece was originally reported by American Market News and is the sole property of of American Market News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/25/discover-financial-services-dfs-price-target-raised-to-91-00-at-jmp-securities.html.
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.
