Discover Financial Services (DFS) Given New $93.00 Price Target at BMO Capital Markets

Discover Financial Services (NYSE:DFS) had its price target cut by investment analysts at BMO Capital Markets from $97.00 to $93.00 in a research report issued on Thursday. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 14.84% from the company’s current price.

A number of other equities research analysts also recently issued reports on DFS. Buckingham Research started coverage on Discover Financial Services in a research report on Monday, October 2nd. They set a “buy” rating and a $74.00 price objective on the stock. Wells Fargo & Co started coverage on Discover Financial Services in a research report on Tuesday, October 10th. They set a “market perform” rating and a $69.00 price objective on the stock. Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Oppenheimer set a $71.00 price objective on Discover Financial Services and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Compass Point downgraded 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 assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $85.52.

Shares of Discover Financial Services (NYSE:DFS) traded up $0.68 during mid-day trading on Thursday, reaching $80.98. The company’s stock had a trading volume of 2,365,365 shares, compared to its average volume of 2,108,283. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $81.25. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.08. The stock has a market capitalization of $29,179.46, a P/E ratio of 14.97, a PEG ratio of 1.31 and a beta of 1.52.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.06. Discover Financial Services had a return on equity of 21.20% and a net margin of 17.95%. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $1.87 billion. equities research analysts expect that Discover Financial Services will post 7.39 earnings per share for the current fiscal year.

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $66.79, for a total transaction of $1,019,081.82. Following the sale, the chief operating officer now owns 769,440 shares of the company’s stock, valued at approximately $51,390,897.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $66.68, for a total value of $533,440.00. Following the sale, the executive vice president now directly owns 173,149 shares in the company, valued at approximately $11,545,575.32. The disclosure for this sale can be found here. Insiders have sold a total of 162,774 shares of company stock worth $11,573,670 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. M&R Capital Management Inc. boosted its position in Discover Financial Services by 1.1% during the 2nd quarter. M&R Capital Management Inc. now owns 6,595 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 70 shares in the last quarter. Peapack Gladstone Financial Corp boosted its position in Discover Financial Services by 1.8% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 5,944 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 107 shares in the last quarter. Moors & Cabot Inc. boosted its position in Discover Financial Services by 4.7% during the 2nd quarter. Moors & Cabot Inc. now owns 4,364 shares of the financial services provider’s stock valued at $270,000 after acquiring an additional 196 shares in the last quarter. Advisory Services Network LLC boosted its position in Discover Financial Services by 8.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,911 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 229 shares in the last quarter. Finally, National Asset Management Inc. boosted its position in Discover Financial Services by 5.3% during the 2nd quarter. National Asset Management Inc. now owns 4,614 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 231 shares in the last quarter. 84.72% of the stock is currently owned by institutional investors and hedge funds.

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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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